I have to admit, I've been pretty doubtful that Raph and Areae were going to go in a direction I like with their game; but I'm completely converted!
If you haven't checked out the basic concept of Metaplace, go do it!
If they can pull it off, I'll be churning out the games as quick as I can... actually able to put my ideas into action! I've been planning on eating and breathing Spore for a year, but that game might have to make room for Metaplace.
If they can pull it off, I can see this having a huge impact on the whole industry. Designers will be hired based on their Metaplace projects. Small-game developers will be able to not only build prototypes, but also get popular feedback on their ideas before investing further time and money.
... not to mention that you know everyone in our little blogosphere will be competing to design the best game. ;)
Honestly, I'm looking forward to collaborating on projects as much as building my own. I can see this being a great tool for Nick's project, especially.
And I bet a lot of folks are going to find out they're great designers when they had never even considered making a game before. People always surprise you with creativity when you give them just the right tools and setting.
There are three exclamation marks already in this post, and I bet that's never happened before (I'm a calm person). I'm really excited about this project. Best of luck, Areae!