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@Davey_Mayhem
E-stays were invented to stop problems with the dreaded chainsuck. Basically old cross country frames had issues with early mtb rear derailleurs being all floppy and horrible. When you hit a bump it was not unknown for the bottom of your chain to get dragged up between the small chainring in the front and the chainstay (where it bent in to meet the BB shell). The clearances were such back then that it could really mash up your chainstay and kill a frame.
With E-stays instead of mucking around with clearances, the designers just lifted the whole chainstay out of the way and thus no chainsuck destroying frames. The design never really caught on as rear mechs got better as did frame design in general so the compromises in increased weight (and as has already been pointed out) the decreased frame strength were no longer needed.
Still it look fly as all fuck at the time and I would have loved one.