There's the usual casting about, and castigating, of what this is, how it works, and where the money is regards @Ello
@quinn's Medium piece is absolutely worth reading, if you haven't already seen it: "What does Ethical Social Networking Software Look Like"
I'll admit a few of my own biases straight off the top of my head:
I've got very little interest in a "social" network. I'm looking for a good ideas space. Ello currently lacks the search, filter, curation, and tagging tools required of this. I hope they appear.
The bones are good. I've seen a long rant about the supposed design failings of Ello and in my not so humble semi-professional opinion it's a bunch of fuckwit designer masturbation that reads like a ton of butt-hurt. But I could be wrong.
More importantly, Ello doesn't need technical superiority right now to grow, it needs a solid core seed community. For Facebook it was Harvard students. For Ello it seems to be a mix of drag queens, free-thinkers, and social-media refugees, which seems as good a start as any. I've argued that among G+'s bigger early stumbles was that Google had established itself as a major attention center for advertising, bringing marketing, SEO, and self-promotion idiots to the network early on. The dual blow of that and #nymwars / Real Names all but killed the service. I deleted my own real-name account within a couple of weeks (particularly after Eric Schmidt's Orwellian "G+ is an Identity Service" comments, among others), and re-launched with this pseudonym daring Google to disable my account (they never did, though I was apparently one of the lucky ones).
But while technical superiority isn't necessary now, it will be necessary later: Technical superiority doesn't buy you scale, scale demands technological superiority. The problem is that success is a horrible teacher, and odds are strong that Ello will be learning a great many things that ain't so as it grows, to which it becomes attached and fixated. Unlearning those lessons as necessary will be critical.
One dynamic I'd noticed especially on G+ was that the parts I enjoyed were less either "individual posts" or "community discussions", but salons. The best discussions happened under posts of people who'd:
Amassed a critical group of intelligent followers.
Policed the crowd sufficiently. Not so tightly that nothing could be said or done, but not so loosely that anything was.
Started with interesting topics.
I've called out both Yonatan Zunger and Andreas Schou as among the best at this, and have suggested more than once that the entire service could be shut down and the two of them could conduct their salons to no great loss. Given what I've seen of Ello I suspect a similar dynamic will emerge here. Not a Facebook, not a Usenet, not reddit. Though that will require moderation tools on discussions, and likely a much better notifications system -- one thing G+ does right is that it allows participants in a conversation, at any later point in time, to return to it and pick up the thread. So long as the spam and useless comments are pruned, this tends to work out well.
Anyhow, I'll be here kicking the tires, enjoying a bit of a new crowd (my usual haunts of G+ and reddit are somewhat limited). Definitely excited with a few of the names who've turned up already.