There's also a phenomenal amount of teh dumb, to be sure. In that way, the Internet is, as the saying goes, like a herd of performing elephants with diarrhea -- massive, difficult to redirect, awe-inspiring, entertaining, and a source of mind-boggling amounts of excrement when you least expect it.
But still. There's a lot of really cool stuff out there. Like PartiallyClips, a clip-art Webcomic that devoured my entire afternoon recently. I ended up reading every single one of them.
Some of my personal favorites: