Webring.org / Webring.com (apparently the same entity) still exists as a site, and it even takes money from naive hopefuls for Premium membership. But their system doesn't work, for any attempt to access any of the listed sites hangs because the site listings don't click straight through to the respective target sites but take you to an intermediate listing site, which just times out. It was like that a year ago and is just the same today. Webring Support is non-responsive, and if you've lost money on a Premium subscription that actually gets you no genuine service because the system is non-functional, you probably really have lost that money because nobody is bothered to respond, even to angry demands for a refund. And PayPal reject disputes raised over such fraudulently obtained payments to Webring, as I've found out the hard way.
Yes, very sad.