The name is also weird for me. Seems to be completely anonymous, in which case I wonder how you deal with moderation which I didn’t find being mentioned. Even the old /b/ had rules that had to be enforced from time to time.
The final nail in the coffin for me was the following. Not only because it’s closed source, but because of the lack of a polished product and the hand-wavy reasoning without any mention on how they are planning on monetising it.
> is moderator open source, can I see the code: no it's not. open source is failing to provide sustainable income to programmers and designers alike and is not a viable option for us