I think of it as a ‘suggested news’ site. If you haven’t already heard of it, or been , the content of this site is just links provided by its users. The links can then be promoted up the ranks by others so they are visible to more people. A simple but powerful concept if used to its potential.
This site is one of the better time killers I have found. Being presented with something suggested by your peers is an interesting way to find new stuff. If you’re bored you can usually find something entertaining or some news that interests you by just browsing the homepage of the site.
My whole thing with sites like this (or reddit.com) is that they are susceptible to tampering by just organizing a group of people to manipulate the promotion of content. I can easily pay a few hundred people to promote a link promoting what I believe and then have them demote other content at the same time.
Still, it has great potential, so check it out if you haven’t.