Collective Intelligence is in many ways the basis of science - Newton "standing on the shoulders of giants" was crediting all the others that put him in a position to achieve what he did.
From this point of view, there is no doubt that Nick Denton is right - being able to connect the thoughts and opinions of all people is incredibly huge and in some respects this will dwarf everything else for quite a while.
However, the effect and product of this interconnectedness will, of itself, be colossal so to say that the internet is "it" for this century is, perhaps, to underestimate the fundamental importance of the internet itself.
I mean improvement in biotech, curing cancer, efficient travel into orbit, better device storage, solving carbon emissions. All these other problems will be solved by the internet by harnessing the collective intelligence.