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When people abandon reading, they do not merely lose a habit; they lose the laboratory where critical thought and imagination are cultivated.

This is a great, succinct summation of what's at stake.

What do you think? Is there still room for this technology to become a bridge that leads us back to the depth of the written word, or has it already passed the point of no return?

I don't think we're past the point of no return (my kids are WAY beyond where I was at their age in terms of reading comprehension), but I don't see technology becoming the bridge back. I believe it will be tangential to whether or not people decide to continue to pursue creative thinking/problem solving and critical thinking.