The problem is something else. The problem is that the internet is more than one thing. It is a couch for the lazy, a distraction for the procrastinator, a massive entertainment delivery device; and most of the monetary value of the internet doesn't come from it being a bicycle for the mind, but for the other things.
Not everyone chooses to ride on the bicycle. Instead of, say, reading Wikipedia, they read Infowars. The world would be a much better place if a lot of people spent their time reading Wikipedia (with all of its faults) instead of scrolling Twitter, Facebook, and slanted news sites like Breitbart, CNN, Fox, etc. etc. etc.