I've yet to encounter anyone who reads hypertext fiction. No one, that is, who isn't also a hypertext author or a journalist reporting on the trend. Surely those readers, however few, must exist, but what's most remarkable about hyperfiction is that no one really wants to read it, not even out of idle curiosity.
Hypertext is sometimes said to mimic real life, with its myriad opportunities and surprising outcomes, but I already have a life, thank you very much, and it is hard enough putting that in order without the chore of organizing someone else's novel.
The end of books will come only when readers abandon novels for the deconstructed stories of hypertext, and that exodus is strictly a fiction.
Critical writing referenced