On one hand, I understand that the original concept wasn't as successful as everyone thought, so the best thing to do is try to do something else.
On the other hand, "meme creation" is so overdone at this point that I am surprised that this is the "next big thing" that they try to build
Diaspora started out wanting to change the world-- creating something addictive may be profitable, but as other commenters say, underwhelming.
Owning the bits is an important problem that will get solved with time, but unless people feel like they are actually creating and making something of value on social networks, then it will be hard for any system to pull it off, even if it gets all the tech right. Turns out the 'social' in social networks is actually the hard part.
This is our stab at it. Sorry if its not for you :)
I'm not sure if they wanted to turn it into "for profit" thing. It's a FOSS project, not a for profit venture. Though the project needs to be sustainable of course.