So yes, it's certainly an approach that can work if you've got good enough writing to draw your "player" in to the story and world.
You could also borrow another idea from the world of children's stories: pop-up and play books have small interactive features which aren't crucial to the story but can be amusing to play with. This could be ideal in a smart-phone or tablet based "game" where the player experiences a story and can "play" with small features in each section -- tapping to make a character dance, or a firework detonate, or similar. Mixed with simple choices (which way to proceed), dialogue choice, and some simple and relevant puzzles you could do quite a lot to help keep your "player" engrossed in and involved with the story as it unfolds.