You want to strike a balance. Too many paths will come back to bite you in the ass later as far as coding and how long updates take. And of course, most are not huge fans of kinetic novels (which are just stories with no choices).
Personally, I always like just a couple choices, enough to have a second playthrough viable. I start getting annoyed when i discover a pile of content I missed because I forgot to play with her nipples or whatever foolishness.
Keep it simple, have a few paths, not a dozen, and not only will people be happier, your work will be easier and updates will be faster. And yeah, choices that matter, which effect the flow of the story are important.
In my own VN (which I have never released, but I have programmed games in the past). I have the whole "good wife" versus "bad wife" scenario, both with plusses and minuses. Basically, two paths which make it interesting and replayable at least once. Games like Our Red String have so many paths and choices, it honestly gets annoying and the updates are taking a VERY long time as you have to take into account ALL those choices and paths and write a story and renders for each one.
I just started playing this and so far I like it.