Having played quite a few interactive fiction myself, I found that those kind of games does work. I honestly think that these kind of games are good and interesting.
Those kinds of game are quite fun in my opinion since it usually has good stories. It’s just like reading a novel, but with lots of interaction inside, making the player feel much more involved, creating a new experience.
These kinds of game may not work for everyone, as it is not a mainstream genre kind of game. It does not have a slick mechanic, but games like these requires good design skill for the game to actually work, as there are plenty of things and plenty of branches to be considered.
Even though these kind of game may not work for mainstream gamer, I also found that non-gamer people might like these kinds of game, as it is similar to watching a TV drama, a movie, or reading a novel probably.
Lastly, the idea of multiple ending decrease the boredom and increases curiosity to the player, and also adding the replay value.
