This is mostly a fun toy at this point, but I do agree with Matt's assessment
Well I've no idea if it has any use but this Website as a Graph think surely makes Curiouser and Curiouser look pretty.
This blog as a graph is this pretty thing. I think the nodes on the left are the core content on my home page, and the stuff on the right is from my right navigation bar. (And I'm pretty sure it's web page as graph, not website.)
It's gotten plenty of interest around the web, assuming the number of images on Flickr is any evidence.