Is Google Summer of Code Fizzling Out?

I've always assumed that Google's Summer of Code, a generous if self-interested offer to pay for students to do some directed open source coding during school/university holidays, was wildly popular - after all, who *wouldn't* want to get paid for hacking? But maybe there are the first signs of momentum being lost in this post, which suggests that the recent deadline extension hasn't led to a flood of applications:

Extending the deadline has, for us, only resulted in six or seven more applications, and the number of applications is about 50% of what it was last year. I'm not sure why that is - persuading people to apply is not really within my power, at least. In the next few days, I guess I'll find out whether we have quality rather than quantity :-)

Anyone else with positive/negative experiences?