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Frankly, a text RPI is a better proposition business-wise than a graphical RPI. Reasonably intense roleplaying graphical games have been tried, such as Lyra Studio's They are MUCH less successful compared to successful graphical MUDs than text RPI MUDs are compared to successful text MUDs.
The thing is, people who like fantasy novels (and there are lots of them) generally don't care about roleplaying. Roleplaying in the RPI sense is just an incredibly niche pursuit, and the cost of producing graphics makes any graphical product a LOT more expensive to produce than a text product.
--matt
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