Jonathan Libov took a thorough look at text and its role in future technology:
It can be indexed and searched efficiently, even by hand. It can be translated. It can be produced and consumed at variable speeds. It is asynchronous. It can be compared, diffed, clustered, corrected, summarized and filtered algorithmically. It permits multiparty editing.
Gets back to the idea that sometimes the best UI is no UI. Text handles a lot on its own.