Is too much networking hurting you?

I love this illustration because it describes networking challenge overloads.

If it's one thing I love--It's networking.  I love being able to connect with like minded people that are as hungry or hungrier than me for success.  Unless you are in the 1% of absolute elite in your craft,  there is always someone more successful than you out there.

With so many platforms like LinkedIn, MeetUp, and FaceBook, it's becoming increasingly easier to network than ever.  before the internet, people had to actually attend expensive trade-shows and conferences to meet the people they wanted to share connections with for their field. Now, with the click of a button, I'm apart of 10 groups with several meet up destinations.  I know a guy who attends all these networking events to talk about his project.  that's fine and dandy but the issue is:

He hasn't completed his project and it's delayed.  He wants to meet all these people that can help change his life but he has nothing to persuade them to go that extra mile!  They may share a favorite band in common but after a certain time, it's business.

He's officially hit network overload.  If you spend more time talking about your project at networking events than actually working on it, you're hurting everyone involved.  Sometimes these networking events give us an excuse to drink and be wild. True, the best business that happens is outside the office; you still need to have a balance of something ready to give to people.

Is too much networking too much of a good thing?  I ask this question to myself every time I see an event locally or LinkedIn group.  Too much of anything isn't good.