What is a product like this going to buy me as a citizen of web? I can see their idea of a central repository of user reputation (something similar to Credit Reporting company). But all the big sites have their own repository and why would they want to share that. So, their basic approach would be to get the smaller websites to get to use this service. Now that is a big issue because why would most of these websites want to purchase a service they do not need. As soon as the customer pays via credit card, these people do not care about the reputation of the customer. So unless this system can help them
Lets take the model from customer point of view. Most people would like to get tangible benifits out of this before they would be ready to aggregate their identity information in one place. This could be in form of discount in online stores. In addition to that the reputation needs to be integrated with a identity engine that can build a central repository of their profile (which will include their blogs, comments on other websites for products, etc) across the web which can then be converted into his reputation (because without the "identity" you will not know who are the people talking about since there could be really large number of "John Doe" out there).
May be I am thinking too far into the future. At the moment, it could be more like something that gamers and others involved in online activities (like chat ) would use to aggregate and share their information out of box.