Nietzsche's inverted Platonism, his insistence on life and the sensuously and materially given as against the suprasensuous and transcendent ideas which, since Plato, had been supposed to measure, judge, and give meaning to the given, ended in what is commonly called nihilism. Yet Nietzsche was no nihilist but, on the contrary, was the first to try to overcome the nihilism inherent not in the notions of the thinkers but in the reality of modern life. What he discovered in his attempt at “trans-valuation” was that within this categorical framework the sensuous loses its very raison d'être when it is deprived of its background of the suprasensuous and transcendent. “We abolished the true world: which world has remained? perhaps the world of appearances? . . . But no! together with the true world we abolished the world of appearances.” This insight in its elementary simplicity is relevant for all the turning-about operations in which the tradition found its end.
source
Hannah Arendt, Between Past and Future (1961), Chap. 1 : Tradition and the Modern Age