Earlier quoted context omitted.
It is a different genre with different strengths and weaknesses. I think it is best to illustrate through concrete titles: Counterfeit Monkey by Emily Short [1]: It is a parser based puzzle game. (Parser based means that there is a "command line" where you type in what you want to do.) In the game you play a smuggler who wants to steal some high tech plans from the island of Atlantis. You see, the Atlantans developed…
So, boiled down: The medium allows low cost creation. Low cost creation allows lots of experiments. Lots of experiments leads to some weird but wonderful concepts. Perhaps throw in that humans seem to be good at abstraction and then the lack of graphics doesn't matter sooo much that it can't be overcome with a great concept? Is that about it?
I feel a bit wobbly about your question though. Would you ask someone who is hiking in a forest why they are not surfing on a beach instead? Interactive fiction is not a faulty game where the graphics is somehow missing. It is a different experience. Some days you entertain yourself with this, other days with that.
a thought provoking question: why would you read a novel where you can’t influence what is going to happen? What is the appeal in that? :)