I love that who gets added to the webring is exclusively in competence of the existing members, and it's just a question of convincing any one of the existing members to link to your site. It's a mathematical property of their structure and it must lead to some interesting power dynamics.

From what I'd read about it, search engines have become kinda shit, focusing on SEO and paid sponsored results than actually showing what someone searched for, so some small websites form webrings to help people find similar websites/interests while they're on their site. I think it's pretty cute/fun.