Is there anything this simple now? What I miss is being able to right click on an item, click "copy public URL", paste it into the browser, and get an exact copy of that item (with nothing else; no image overlays, no ads, nothing).
In the limit case you should be able to use it as a webhosting service for static files, since visiting an html page in a browser serves that file and relative links are preserved.
I guess it's a losing value proposition, but it sure would be nice.
It's unfortunate the original demo video was lost to time. I remember how astounding it was.