Here’s an interview with DHH (creator of Ruby on Rails) where he talks about how Rails can compete with other technologies in terms of performance amd how they’ve made Basecamp fast.
I think Rails can be a great framework for a lot of web applications out there. Just because it’s more established doesn’t mean it doesn’t have a place anymore. There are situation where it isn’t a good tool of course, but one shouldn’t just move on to the next hip technology just because.
Anyway, I found this interview very interesting. Be warned, there is a little bad language in there.