Hulu, the joint video venture from NBCU and News Corp. due to launch later this fall, hasn't impressed very many people, and at least one advertising executive is wondering if the site even matters.

"Hulu is overkill," Kathy Sharpe, CEO of Sharpe Partners, told SmartMoney. "It's becoming apparent that you don't have to have a Hulu for the networks to put out quality video or trailers to get consumers to watch."

While few predict a sudden collapse for Hulu, the site has thus far failed to generate a lot of buzz. That may be Hulu's own fault; the site has issued few statements and went without a name for months.