Not as ridiculous as you think - a large amount of content is locked into PDFs which present effectively as images, and HTML wasn't always as dominant as it is today.
The idea that it is actively shameful to use Lynx is strange and antithetical to the way the web was originally designed - the user agent is SUPPOSED to be in control of presentation, the markup is SUPPOSED to be semantic.
It's not that it's shameful to use Lynx. I love Lynx. However, the web is continuously evolving, and things like Lynx are not keeping up - I mean, does it support WebGL and HTML5 video?
I absolutely think there's a place for a text-based browser still, however, one that is designed with modern considerations.
The idea that it is actively shameful to use Lynx is strange and antithetical to the way the web was originally designed - the user agent is SUPPOSED to be in control of presentation, the markup is SUPPOSED to be semantic.