Is Twitter becoming THE reference for the content web?

Few weeks back, Twitter announced that the tweet button is present on 3 million websites now. Even looking around, almost every piece of new content (esp textual content), whether it is a WSJ article, blog post by an unknown guy or a local newspaper item, gets tweeted about almost as soon as it is published.

If almost all (or a lot of) of the web's content is getting referenced on Twitter, then can Twitter become the most authoritative source for finding relevant information? On any and all topics?