I couldn't get into this one personally, because there are all sorts of inventions and ways we could do that would explore the holes without ya know... jumping into them?
Like, I dunno, throw a cell phone camera in there and see where it goes?
I guess the "horror" was the mass hysteria that caused people to mentally link themselves to a hole and think they had to jump in. But psychology doesn't work like that, as far as I'm aware (and there's some psychological horrors in the real world, like schizophrenia, that do scare the bejezus out of me).
But yeah, I realize everyone else thinks its a masterpiece. But... I just couldn't take it seriously. But give it a try, maybe it works for ya!