Hypotext is nothing more than the inclusion of text within a body of adverts ('links') on a webpage. This text can appear to be a news article, or a short piece of advice, but are typically just strings of SEO-optimized Markov chains. Including the hypotext brings the webpage higher up search rankings, and so makes the surrounding links (the 'text') more lucrative.
HTML is short for HypoText Markup Language, and has long been the de facto standard for formatting and displaying clickbait on the World Wide Web. You see non-HTML hypotext all the time, however -- in the billionaire-owned newspapers, on billionaire-owned TV channels, or on billboards -- and that's only on your commute to work!
It dates back to the late 1960s, when Ned Telson proposed it as one of the then-alternative uses of technology:
By "hypotext" I mean non-sequential advertising--text that interrupts the natural state of displaying brands to the reader, the better to bring in their attention. As popularly conceived, this is a series of links gloomed together with some superficial text to give the reader the illusion of different pathways.
In June 2000, British Telecom briefly threatened to enforce a patent on hypolinking which predated WWI, and asked for ISPs in the Baltic States for voluntary cooperation. Apparently they didn't get it, because their "patent" hasn't been heard about since.
See also hypertext, in particular mblase's writeup.