On Facebook someone asked What Ello is. I started answering inline and realized it should be a blog post. So here it is.
This is just how I see it. You may prioritize things differently, or come to different conclusions. I waited until I felt I had a firm grasp on what it is and isn't and where I think it's going. Of course all this is with the caveat that it's just my opinion and your mileage may vary.