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He is a pundit. He offers his opinion on things. The "journalism" he does consists of either regurgitating what his sources have gossiped to him or offering opinion based on uncritical acceptance of said gossip. This has some utility, as it gives him insider insight; for example, his book Politics Lost reveals how Democratic strategists managed to kill Al Gore's passion for the environment in 2000 and turn him into a robot.
But little actual journalism gets done by the ever growing pundit class that masquerades as journalism.
Something I find interesting is that when you compare the pundit class to the actual journalists what jumps out at you is how when you think of the pundits you think of their personalities where as when it comes to the journalists you think of their work.
Compare, for instance what comes to mind when you think of Klein versus Charlie Savage, Peggy Noonan versus James Bamford, Maureen Down versus Eric Lichtbau, etc.