I'm trying it out. The site design is slick (although not entirely debugged). I kinda like the idea of a legal, centralized repository for free fiction. And the social aspect ought to help readers find the stuff they want.
As to dross - from my perspective, most of the books in your average bookstore fit that category. (Not because they're badly written, but because they're not what I currently want to read.) That doesn't seem to keep me from walking out with a good book.
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