This sort of behavior was formerly used by DejaNews. The Usenet articles, when viewed in full HTML mode, had links from popular trademarked works to the advertiser's websites.
Personally, I think this "smart" idea will meet the same fate as Deja's advertisement bombardment had: People will get annoyed about it and use something better¹. At least Microsoft promised this option would be optional... This sort of linking can be very, very confusing.
(Also, people think this linking is similiar to E2's linking - it smells more like Wiki, though, because E2 will only have specifically linked words (hardlinks) and links created by traversing links (softlinks), and Wiki uses automatically linked words between nodes. Even then, it's different...)
¹ in Deja's case, I always linked to text versions of the articles - those didn't have any advertising. Deja is now owned by Google, and Google's web advertising scheme is much less obstructing than link bombardment.