Annotation in a weird way is even harder than a "boil the ocean" problem; you have to have the exact right number of participants, across all the enormous complexity of the Internet, or at least, a very huge chunk of it. If you have nobody on some page, the annotation system is useless, and if you have thousands of people pounding away at the same page, it's pretty useless too. You have to hit this window of reliably having just the right number of users on a page, on an Internet that intrinsically tends towards power law page viewing, somehow across the entire Internet. After ~18 years of watching the space, I simply believe the entire vision is unsolvably flawed, especially in the presence of successful link aggregation and commentary sites.