Why do I need to "sign up for the beta"? Why do people think this is the cool trendy thing to do? Let us have it or let us know when it's finished. I don't need to know about it now.
Its the same reason why bouncers out the front of clubs only lets certain folks in. It creates exclusivity, regardless of whether it is warranted or not. For me, it is a crappy.
I am sure you will use their server(s) somehow ("added value service"). Yet another email client that is more than what it seems. Of course, all speculation.