Anyone who actually gives half a fuck about this story deserves to be slapped with a steel-tipped slapping glove. Seriously, out of all the non-stories of stories I see on the news, this certainly ranks up there.
First off, he's not like "HEY TAYLOR SWIFT YOU'RE UGLY AND CAN'T SING LOLOLOL", and while what he said may not have been "good", it wasn't terrible. If you consider that a "diss", than you're a real pussy.
Second, since when did the VMA's even matter? It's not like a Grammy. I don't see many musicians walking around with their VMA in one hand and their cock in the other. With Grammies, on the other hand, that's a different story.
Third, who cares, it's Kanye West. He was drunk. He's a douchebag. Stephen Colbert kicked his ass. Since when does anyone think this is "shocking"? He just makes shitty music and thinks his cock is over a foot long. Well, for all I know, that could be true. He is black after all.
Fourth, who still fucking cares? If you're writing up some cheesy gossip story at whatever shitty rag of a magazine you work for, then odds are you'll love this story. If you're someone with common sense (which obviously isn't a qualification for this site, and if it was 90% of the people here would be deleted), you'll just say "this is dumb" and write up a rant like this.