The layout is quite similar to Bebo, the black banner at the top and the sign in part on the right. (its not good or bad, im just pointing out the similarities)
Interesting idea, but i wasnt too sure what it was about and why i'd want to sign up for it.
But i did only look at it for about a minute..
I do think the future of social networks is towards grouping about niche interests. Facebook and the rest are so cluttered with spam postings it is very hard to see the way through.
For interest have a wander around the ning networks where the successful ones focus around a topic as opposed to a person. Subject centric is working better than ego centric.