This has been my go to networking site for a while now. I feel less prestigious now that everyone can get in, but it's worth it for the new opportunities it will bring.
I've always been interested in how this model would play out.
I guess the service would be a lot more favored by the employees than the employers.
It should really look for ways to genuinely benefit the employers as well by becoming an honest feedback channel rather than a source of company's leaked information for the tech media.