Yup - I am sure a business could be started around this for providing summaries of videos etc for businesses and people too busy to watch a video but will read some text
Well YouTube already has (currently terrible) machine text transcriptions...
There is a definite need for this. For example, asciicasts.com is the same content as railscasts.com but as an article instead of video.
Just to clarify: I do think videos have a place, its just that place is further down the line (e.g. I want to know more) rather than the 'initial introduction'.