Very interesting, and I'm interested in seeing what SEO experts think also...
Personally, I think it's a step in the right direction. The "Hubs and Authorities" was a valid idea before everyone went link-crazy and has diluted it as an effective means of determining who's hot and who's not. Now, the phrase, "Hub and Spokes" better describes what is going on.
With WebFountain, think
www.Kartoo.com on a supercomputer. Speaking as someone that does SEO, I think it's great. Here's why: Basic SEO is nothing more than finding out what people use to search with, and then getting it on the site within a structure that is search engine friendly, as much as possible.
I think Webfountain could put a new spark the old robot. I only see it making content more valuable, not less, even as it tries to put things into context and determine trends.
If Webfountain becomes something that will impact us lowly consumers and would be experts (Calm down, I'm referring to myself, ok?), I think that remains to be seen. But if it does, then I think Google will be quick to adapt and do what it can to improve their results still further.
The value of content, and particularly optimized content is not going to go away. And any new technology that can put this whole link thing to rest would be very welcome in my opinion.