Does anyone know memetika?

memetika
It says it's social network software but right at the early stages. Has anyone used it? Is it any good? They have a pretty intense privacy policy including:

By submitting or otherwise making available materials to public areas of Memetika. you agree that Memetika will at all times maintain a perpetual, irrevocable, royalty-free, worldwide, fully paid, assignable right and license to reproduce, repurpose, use, store, modify, edit, distribute or make available any portion or portions of such materials as they see fit in any medium, now known or hereafter developed, for any purpose whatsoever, subject only to the terms set forth in these Terms of Service.

Makes me not want to submit anything...+jono