Actually jfornear, yes it is visionary. To think otherwise means you have only skimmed their material.
Based on their posts, they appear to be positioning themselves as a "Facebook Killer" solely to take advantage of the current backlash against Facebook (considering their current funding, I would say it's working). What they are attempting to create transcends anything we currently have; the closest you might come would be if you hosted a cryptographically secured peer-to-peer server only your friends could access (once you have that, now make it easily replicable and spread it across the net).
Based on their posts, they appear to be positioning themselves as a "Facebook Killer" solely to take advantage of the current backlash against Facebook (considering their current funding, I would say it's working). What they are attempting to create transcends anything we currently have; the closest you might come would be if you hosted a cryptographically secured peer-to-peer server only your friends could access (once you have that, now make it easily replicable and spread it across the net).