There is enough humidity around the Nile, that is, the places where people actually lived, to rot papyrus. We have some remaining papyrus archives, but those are exceptions, not the rule. There is absolutely nothing like the library of Ashurbanibal.

Papyrus was amazing material for the time, but it was also a curse on future archeologists. The Achaemenid Persians went from being illiterate, to writing on clay, to capturing Egypt and writing on Papyrus, in one human lifetime. We have more surviving Persian writing from the short time they wrote on clay than we have of the two hundred years of their history after that.