Iko, you.have.no.idea. how awesome it is. There are groups of people that work together on huge projects, or you can still be independent. They have underground tunnels in my server that reach for minutes on end, powered by minecarts, that connect two continents together. We have floating landmasses, interconnected bridges that, when viewed from above, look like spiderweb, and the spawn area looks like a city. Someone made a 1028x128 square "monster grinder" that is a series of water tunnels that would collect spawned monsters and forces them through an assembly line of "lava knives" that, in the end, would dispense their drops at the bottom like a vending machine. You can even see it in action via glass windows.
Yeah, everything you worked for in singleplayer would look like child's play when you adventure in multiplayer.