In my Internet Marketing:Strategy, Implementation and Practice book I ask this question in the chapter on traffic building / digital communications. I hoped readers would think of the relative sizes of different types of sites and their representation through different forms of digital media channels both on the major sites and the "long tail" of smaller sites.
So it was nice to see the BBC recently use a similar analogy in their blockbusting Internet documentary, Virtual Revolution.
They had a great visual produced which I've grabbed from the iPlayer version of the show:
Since the programme Hitwise have published a more detailed map, which I thought would be interesting to compare - it's worth reading Robin Goad's analysis on the Hitwise site.