I usually dislike multi-page, but I was surprised that I didn't mind in this case.
I realized that it's the latency of multi-pages that I don't like. This site loaded instantly (for me). A factor in this was that I adblocked all the ads (when I disabled adblock, loading was significantly slower).
I don't like waiting for page-loads. It breaks my train, and maybe also there's the uncertainty of whether I'll be able to finish reading, since pages sometimes don't load - this has happened to me.
Hmmm.. if someone cached their multi-page article in the client (including the ads) and switched dynamically pages with javascript, one could achieve the same effect.
These are also "webapp" issues, and I think why offline webapps (google gears, AIR, silverlight, javaFX) are so important. I guess it will also finally disrupt Microsoft's Windows platform, without needing a new hardware platform (previously, mainframes, minicomputers and workstations were disrupted by new hardware platforms - I don't see that happening to Microsoft).
I think I actually like multi-page in itself - it gives me a natural break, and also enables literal "bookmarking" (yes, like pages in a book) if I don't want to finish it all right now (or if I want to remember part). I actually wrote a little greasemonkey script to add in anchor names to headings on long essays (eg: pg's), so that I can bookmark them (with #).
People have the capability. They just choose not to support such a rude presentation. To each their own.