The biggest differences between Mindvox losing it's password file in 1995 and a webapp losing its user table in 2010 are:
* Web apps are getting fielded with straight SHA1 hashes, which is inferior even to FreeBSD's original MD5 hash scheme.
* Brute force attacks have gotten much faster.
The main advantage to bcrypt over, say, AES, is that the key setup is really slow. Mazieres spotted a weakness in Blowfish and turned it into a benefit.
Is there some real argument you have with me? I agree: if you lose your user table, you have real problems apart from losing password hashes --- though we could bicker about which of those problems is worse. Where are you disagreeing with me?