Just installed it - too early to say what my opinion is; but I agree that it is too difficult to describe in the way they are currently marketing it!
Now, if only I had some friends, then I could test it!
Update: Played with a few of the apps / widgets now, and am surprised by the lack of configurability or Web2.0-ness.
For example - the Fridge app lets me add tiny notes (40 characters, which is almost too short!) to anyone's message board, but there is no control over placement, colour, font, or size. Also the Fridge door has a number of fridge magnets on it, adding to the theme, but I can't move these, or customise them in any way.
Sure, this is only release 1 and essentially a proof of concept, so I guess these things will come with time; but what a missed opportunity to capture people's imagination!
Rightly or wrongly, I'd be much more likely to use Fridge if I could add my own Cody magnet and make my notes turquisoe and purple!