It's basically Digg + an ad hoc reputation system. The good news is that it will eliminate most linkspam. The bad news is that it will filter out a lot of insightful content. The systemic design rewards the people who post every single day, rather than those who post the occasional great piece. The reason is that if you only post occasionally then it's very hard to build up a following, unless you write for a techy audience who all use RSS or you make Digg or Slashdot regularly. Instead of encouraging people to speak up when they have something valuable to say, it seems to be encouraging almost the opposite. [insert joke about my comments here].

I do, however, predict that this site will have a lot of stories with really awesome headlines.