There's some really advantages to text browsing.....
in theory, yes. i love links (at times) but crappy or nonexisting javascript support (many sites inoperable without it) and afaik tinycore does not have the textmode driver for the mouse (i always think it's called gdm, but that's the login manager for ubuntu/other enormous distros, right?) and pointing and clicking is more efficient than scrolling through lots of links on a webpage. i know, because i used to use arachne and using it without the mouse was intolerable for any "serious browsing."
personally i think that no website should depend on flash (if it can't be done with gnash, don't do it!) but sites like youtube, blip and vimeo are important because they connect the world in a way that text just can't.
pictures are overrated (in fact i almost always surf with pictures off) but when you're doing work online all day, turning pictures on can be very refreshing. naturally, links can do very nice things in a framebrowser. but then you get to css. a lot of sites are quite usable without it (some i think are better) but the way the nutcases at the w3c push everyone to put one div per line and then use css to bring all the divs into a table (or this is just how table-free design is interpreted) 2 page websites become 20 page websites in text browsers or without css.
in theory, text browsing is good. in practice, it's becoming very tedious and sometimes impossible. we need better text browsers with more features to browse reasonably- but sometimes we just need graphical browsers, where "we" refers to most people. if you're happy using only links, we could envy you. but you're probably making sacrifices too. i agree though, there are some advantages. my favorite use for links is when i want to download just one thing from the net booting tc into cloud mode, or just look up one thing in a search engine or wikipedia.