It’s not that hypertext went on to become less interesting than its literary advocates imagined in those early days. Rather, a whole different set of new forms arose in its place: blogs, social networks, crowd-edited encyclopedias. Readers did end up exploring an idea or news event by following links between small blocks of text; it’s just that the blocks of text turned out to be written by different authors, publishing on different sites.
—Why No One Clicked on the Great Hypertext Story.