I honestly think the concept has potential, but the implementation of the idea is poor. The fact it that all it is, is a text chat room where you can control a sprite that walks around. The sprite can't do anything other than walk! It can't interact with other sprites, it can't do anything other than walk around. Frankly that being the case, it's better off to just talk on IRC--no need to waste screen space on graphics that lose their novelty after thirty seconds.
If it had an SCI1-like point and click interface with an inventory, virtual shops, tons of objects on the screen to pick up, use, and interact with, the ability to build on and modify the worlds, and so forth, and mini games to play with each other such as a sword match, or whatnot, it would really be something. However, all you can do is walk!