the RHIZOME discussion list has had threads recently and in the past about "Epic Net Art" & whether there has been any net art that is EPIC.
I followed a few links and thought they were interesting projects - epic or not I can't comment.
Bruce Sterling's workshop - Designing Processes Rather Than Art on designing processes for generative art, which can be replicated by other people to produce the generative art work
generative nature - text by Marco Mancuso (in Italian)
Transcription of Lecture by David Ross, San Jose State University, March 2, 1999 - including Ross's 21 Distinctive Qualities of Net.Art
Net art, web art, online art, net.art? by Andreas Brogger - what is net art?
Why have there been no great net artists? - by Steve Dietz
10 myths of internet art - by Jon Ippolito
Internet based art & design course - university of north carolina
The most feared woman on the internet - Netochka Nezvanova is a software programmer, radical artist and online troublemaker. But is she for real? By Katharine Mieszkowski. this wasn't on Rhizome but I found it around the same time and thought it matched this thread