Less fun? Are you high? I get more intellectual stimulation of a single site's content on one day than I've ever gotten from every dumbed-down newspaper editorial I ever read before the Web took off.
I think Gibson meant the future www would be "less fun" relative to the procrasination friendly "unsorted Global Ham Television" 1996 version
I think the internet is more fun now - there is the boring mainstream but there is also an absolutely huge lunatic fringe. The web now is more chaotic than in 1994 because its so much more accessible to chaotic minds now. In 1994 it was all just monty python scripts and references to barney the dinosaur.
Perhaps a reference to the commercialization of the web? As various SEO masters monetize every nook and cranny of the long tail, even Google will have a hard time finding the crazy.