WhereIgo's require a final physical cache. That is not always possible and thus the original concept of virtuals.
Web Cam.. Sorry to me they are just stupid and not much fun at all...
What is interesting is that they can up with Earth Caches right about that same time and Still Allow Earth Caches - they do not require a physical log

On the bright side there is a force that has formed to bring back Virtuals only with a bit of a change, they must be historical in nature NOT McDonald's and things of that sort. Interestingly enough this is were Jeremy made what will be considered by all the most profound statement of Ground Speak History "It's Your Game, not ours" , combined with that and the lack of physical log for Earth caches it opened the door and some have already stuck their foot in it to keep it open... They are coming around but very sloooowly... That could be a good thing or a demise of the entire concept of Geocaching as we knew it... Time will tell I guess.. They are starting to listen anyway.