Why are bookmarks so useless ?

Once upon a time, back in the dawn of history, we all remember "Netscape", the "Anti-explorer", which kept us all free from the micro$oft virus and also reasonably sane. Back then, you could "bookmark" interesting stuff you found in a list of links. This was kinda handy for people like me who have a memory like dorey's (from finding nemo...) Therefore, I'm wondering why the so-called "bookmarks" functionality in firefox is now completely useless ? Due to it's completely useless nature, I ultimately have started a text file called "bookmarks.txt". When i need to bookmark something, i copy the dang address from my browser pane and paste it into the bookmarks.txt file. It is somewhat clunky , but it is a hell of a lot better than the so-called functionality given in the browser. Would be interested to get the community's feedback on this point. Am I stupid, or, do I have a point ? And why is the bookmarking so useless anyway ? Let me know your opinions , folks.