Pipes was a basic web "agent". It made basic programming available to the everyman much like HyperCard. Perhaps is just needed a runtime UI that matched the excellence of its design time interface.
Yahoo is focussing on mobile yet here they had this custom agent building tool that could easily be re-purposed to mobile to make a killer platform for Yahoo users.
Hopefully they will opensource the first generation perl version.
Some of my favourite flow based programming links follow.
Surprised nobody has mentioned noflow node.js workflows:
https://github.com/noflo/noflo
Also this (untested) will convert your yahoo pipes into Node.js https://github.com/neyric/pipes2js
and this one (also untested) will do the same in python: https://github.com/ggaughan/pipe2py
There is also python pypes which has a yahoo pipes like frontend with a stackless based backend. http://pyvideo.org/video/400/pycon-2011--large-scale-data-conditioning--amp--p
https://github.com/fullscale/pypes
Other python flow based programming tools https://wiki.python.org/moin/FlowBasedProgramming
http://www.kamaelia.org/Home.html (BBC research)
http://www.ruffus.org.uk/index.html
Wireit is a javascript pipes like frontend http://neyric.github.io/wireit/docs/
As you can see I loved pipes and I can