Literature A creepy, cleverly written bit of fiction.
This is one of the more famous Creepypastas out there, and for good reason. While using fictional messageboard posts in stories isn't a new thing in Creepypasta lore, this uses it well. Each "post" is written in a way that's descriptive enough to create vivid mental images, but not so much as to leave no room for your imagination to fill in the blanks with whatever horrible things you can think of, which is much scarier. The dialogue reads very natural; you can just imagine a bunch of people saying this stuff in real life.
The "Candle Cove" show itself though, is the real gem of this story. Unless a lot of "lost episode"-type pastas, Candle Cove doesn't rely on loads of gore, and instead features mainly hysterical screaming, unintentionally disturbing imagery, and threats of skin-grinding to scare. Best of all, it's a quick read that doesn't overstay its welcome. A definite must-read for horror fans.
Literature The Limits of Nothing Is Scarier
In an interview where Kris Straub is asked about fan sequels to Candle Cove, Straub decries the sequels due to indulging in what he views as unnecesary attempts to expand and explore the lore of Candle Cove and explain the origins of the titular show, explaining that the story's strength lies in its mystery. This unintentionally reveals the story's greatest weakness, and the reason so many seek out an explanation for the show's existence: Candle Cove the show, by itself, is not actually dangerous.
The realization that Cadle Cove is just a bizzare, creepy show a handful of children watched decades ago, nothing more, kills all tension in the story. The show isn't linked to strange dissaperances, suicides, murders, or insanity. At most, it caused one of the main characters some nightmares. The danger from the show is so incredibly mundane that the big reveal that it might only be viewable by children only creates massive Fridge Logic; why would a maliciously supernatural phenomena create a creepy puppet show just to scare a few random kids?
Nothing Is Scarier can only go so far to make something scary. After a certain point, there has to be something threatening, otherwise you're left with Nothing, no scary, just Nothing.