A very prescient and insightful book. The first few chapters, exploring the lead-up to "multiform" media throughout the 20th century and then the earliest forms of digital media, are valuable for everyone consuming any type of media today. The middle chapters where she takes on forms and modes of storytelling that she predicts will take precedence in the digital age are also worthwhile; the whole book is full of depth and useful knowledge. That's not to say it's flawless, however.
There are some issues, namely the author's occasional imposition of outdated structuralist critique where it doesn't really belong (a minor and somewhat personal point), and her lack of engagement with the craft of game design—though she does dip occasionally into game studies, and there is very little in the academic world of her time that engages with the craft itself.
Where the book is most disappointing, tied to the lack of engagement with game design, is the author's seeming lack of a personal relationship with her subject matter; whether she speaks on videogames or folk tales, she almost always comes across as quoting someone else's curated and/or academic opinion, not forming a genuine opinion for herself. Lots of talk about text-based media such as Zork and MUDs, likely due to all the computer science people the author is in contact with who are interested in these environments, but where are mentions and analyses of Ultima, Might & Magic, Zelda, Final Fantasy, LucasArts works or the newly-emerging MMORPGs, perhaps the strongest pillars of interactive storytelling in their time and occasionally quite representative of some of her points? She clearly doesn't avoid such media—she voices her admiration for Myst several times—, but still leaves a lot to be desired. This shortcoming is why the author's depiction of her brief encounter with the Mad Dog McCree arcade cabinet is such a standout; imagine how many more such standout experiences would be on display given a more rigorous engagement with interactive narrative media. She also leverages this experience to reach a rather problematic and insufficient definition of immersion, which lies at the core of her biggest misprediction related to digital media evolving into a "holodeck" style environment privileging virtual reality and total sensual integration. I believe a lack of personal engagement with "multiform" media lies at the heart of this missing of the mark, as it leads her to synthesize these disparate ideas into a contrived and unnecessary end.
I want to end by reiterating, after all my criticisms, that this is a fantastic book, full of significant considerations and eye-opening insights. It is about as complete and cohesive as a book written all the way back in 1997 can reasonably be, and that's remarkable.