Social Networking goes video?

So there's a new thing on the social networking scene called LiveVideo.com, which you'll no doubt be hearing about, unless like me social networking seems so 2007.

Launched today, Brad Greenspan (MySpace founder) has created a site which seems to offer a social networking platform (with all the usual bells and whistles, like live chat etc) based around video. Get a webcam, create a channel on your own or jointly, see if anyone bothers to turn on I guess.

Maybe I'm cynical, but despite the boasted features (below), I can't really imagine myself ever doing this. But then I guess I'm not one of those people who tries to get on a reality TV show...

The press release boasts that users will be able to:

    -- create their own LiveTV show and broadcast it to the world;
   -- watch LIVE shows streaming from across the globe;
   -- Social Stream: Socialize with your friends through an integrated Video
      Chat Room even as you watch Shows together in a unique one of a kind
      shared experience
   -- participate in virtual classes, listen to live speeches and/or engage
      in live interactive game shows;
   -- upload videos up to 200MB with stereo sound;
   -- upload photos and arrange them into professional quality slideshows for
      family and friends;
   -- video chat with up to 10 other people at one time;