I think it will be fun. It's not and can't be a replacement for Homestuck in any way, but I think it's fun that it exists. And if it gets some new people interested in checking out the comic, then even better.

Like elegantSpinstress, I especially like the way they seem to be handling the fact that Homestuck is 90% chatlogs: just have have characters reach through the phone and interact as if they were there. I'm curious how or if they will handle things like John's phone being trapped under the sylladex while Rose tries to reach him. Maybe she'd be trapped in a captchalog card, trying in vain to get John's attention?