Morale probably took a big hit when cofounder Ilya Alekseevich Zhitomirskiy died :(
http://www.nytimes.com/2011/11/16/technology/ilya-zhitomirsk...
I made an account but it never really took off since none of my friends made the switch. I think the idea of a distributed social network isn't flawed but I have a feeling that a successful implementation won't look like a clone of Facebook/Twitter.