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Does using "Grand Rounds" in the title dilutes the "brand" of the original GR? I don't think so. Nick's GR will (most likely) always be the most popular and visited one. NEJM will always have a higher impact factor than JACC.
It all depends on the number of users, just ask Digg.com competitors who launched similar websites -- what happened to them? Nothing... Exactly. Nothing happened because nobody uses them.
I certainly hope that the faith of the newly-launched specialty Grand Rounds will be different. And most likely it will be -- subspecialization is the natural tendency in modern medicine. I also like the name "Grand Rounds" much better than "carnival" of, let's say, pediatrics. It does not sound serious, does it?
Good luck to the new subspecialty Grand Rounds and don't forget the most important part: submit and read other bloggers' posts.
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Image source: Radiology Grand Rounds