I find it good looking and informative enough. If I am reading an article, I don't necessarily have to visit each and every linked page. I can now know briefly what this "phrase/word" is about (whether a title, a person or anything else) and just go on reading.
Topic on Talk:Page Previews/Flow
I find it useful when viewing an edit preview for an article, as it allows me to easily verify if any wikilinks I added are working.