Consuming any other kind of content on the Internet has gotten so much better it's hard for me to imagine, in the late 1990s, predicting how good it is. I had a laptop hanging 1 hop off a default-free peering core router and never would expected this network to replace all of radio and television.
Similarly, creating any kind of content is drastically better than it has been at any other point in the history of the Internet. For 90% of what I need a word processor or spreadsheet for, free Google Apps is more convenient than MS Office on my laptop; I'll use them simply to avoid launching the app. I'm still in native apps to draw diagrams, but I bet I won't be in 5-10 years.
Finally, with respect to written content, I think you take the good with the bad, too. Specifically: in the 1990s, every news source in the world wasn't crudded up with 100mB of Javascript grinding your machine to a halt, but there was much less news on the Internet. Add the Kindle Reader back into the mix and I think we're out ahead even on this axis.
And don't forget: Flash is dead.
On balance, I think we're much better off than we used to be.