Nevertheless, it is an interesting point that the new Yahoo homepage links predominantly to Yahoo properties - rather than to external sources, as it did in the old days. The directory service is still there, but has been de-emphasized on the homepage
The directory was a section on the homepage (albeit near the bottom)...and
...it was also featured as a search option
The directory is still one of the options hanging off the search box - but isn't otherwise featured on the homepage
Perhaps it's just a sign of the times: directories of external websites are out, Yahoo media properties are in.
Via ReadWrite Web