I don't think that node.js is doing either of those things. How does one quantify "sinking down the drain"? It's not zero-sum. How is Cloudkick writing services in javascript any worse or better than Cloudkick writing those services in python or java?

I think the real danger is people thinking they've learned everything there is to learn and closing their minds. Which includes telling people that "node.js is cancer". Node is letting people do all kinds of interesting things, and it isn't killing off anybody's favorite language.