I noticed the shift from the parent's "software" to your "content." The distinction is critical. Most web pages are content, i.e. what's worthwhile in them is their media (text, images, video, etc.), and not their code. What draws us to HN is its content, and we appreciate its minimalist aesthetic, i.e. if it it used WebGL or something it could only be made worse.
As a content delivery platform, the web is unparalleled, ridiculously good. I have paid for content (for example, NSFWCorp), and will do so again in the future.
But as a software delivery platform, the web is unproven if we are to be kind, and crap if we are to be honest. Web software is fragile, limited, and subject to the whims of the site maintainers, who may modify it without warning, or even remove it entirely (e.g. Google Reader). I have spent hundreds of dollars on native productivity software, games, etc. but I have yet to spend a dime on a website for its JavaScript.
That may change in the future, but I doubt it: any program that's a sufficiently good web app can be rewritten as a desktop app with more capabilities. Ultimately the web may be the go-to place for trivial or gimmicky software, but the most powerful apps will be peers to the browser.