Yes, Natch, you might call this something like "hyperlinking for the masses".
Hyperlinking becomes "automatic", so to speak. Any time anyone writes a wikiword, if an article exists by that name, it will be hyperlinked. If it does not exist yet, an "invitation" to write one is displayed (i.e. the suffixed questionmark. Example: WikiWord
?). Note, too, that the wikiword may also become a link at any time in the future when a corresponding article is written for it.
Incidentally, many wiki engines also have capability for interaction with "sister" wiki sites. Consider the implications of this....
WikiAudience - who is it for?
WhyWikiWorks