There surely is history worth preserving. It's just this "compulsive hoarding"-approach that seems ultimately futile to me.
The internet itself inherently preserves the knowledge that at least one person cares enough about to put it on a webserver. Pretty much everything of even minor relevance should be referenced by Wikipedia by now.
IMHO the internet itself is the "Internet Archive".
Remember the 2004 Indian Ocean earthquake and tsunami?
To be honest, no. But Wikipedia seems to have that event pretty well covered; http://en.wikipedia.org/wiki/2004_Indian_Ocean_earthquake_an...