First and foremost, it's about making like-minded friends and reliable roommates.
Ideally, the goal is the create a valuable development team in the process - and then take on fun and creative projects through opportunities like ycombinator and kickstarter.
That being said, I am a Ruby developer. I do think that anyone I pair-program with should be familiar with Ruby.
However, I am not tied to the constraint that I have a roommate that is a Ruby developer.