Sounds a lot like what used to be one of my favorite site
del.icio.us
Which I believe Yahoo bought off and killed.
del.icio.us
Which I believe Yahoo bought off and killed.
But saving tags--what was called folksonomies at one point--never really became a mainstream way of sharing links as opposed to just bookmarking them for your own use.
At the end of the day, a lot of this is lamenting that a hand-curated Internet doesn't scale.