It's easily forgotten now, but in the 95 and 98 eras Microsoft actually bundled a utility called Quick View [1] that added a quick preview to the context menu. It got lost in the XP transition and I have to wonder if they thought that the changes that came along with the IE-ified version of explorer.exe (image thumbnails, document previews in the sidebar) replicated enough of the functionality that it wasn't necessary anymore (they didn't).
[1]: https://en.wikipedia.org/wiki/Quick_View