One thing that makes zipit not apply is that it's already partly a reality in two different ways. First, he has a pretty good prototype, with good branding already. Second, his call to action has actually started some serious interest, from what I can tell. There are quite a few encouraging comments and suggestions here and on his blog, for something that was just announced half a day ago.
Ben, I hope you can bring collabedit to fruition!
In this case I was looking for feedback, ideas and awareness. Given the state of things, the timing has worked out pretty well.
EDIT: I see they added the autoindent setting last March. I still can't for the life of me figure out how to actually enable it. It should be on by default, no question about it.
You can also open multiple browser windows if no one else is there.
That would ensure this "problem" happen in the future -- and you gets lots of brainpower in figuring out how to really improve on the basic theme!
What functionality would you like to see in a great collaborative online editor?
We need a license that will a) protect the developer from competition as long as they're in business and b) protect users from the company killing the product. When devs are not in game anymore, it must be possible for users to run the software themselves and allow others to enter the market (fork the company, not just free software). id Software's approach by frequently releasing old versions of code in Affero GPL might work.
Mint (http://www.haveamint.com) and FogBugz (http://www.fogcreek.com/FogBugz/)
You can buy and self-host these products, with source code included.
The hard bit is getting people to use it.
I wrote a fun multiplayer drawing applet (Java) back in 2000, but no one used it :( sob. Actually a few did, it was fun anyway :) One of my points is, this technology is nothing new.
With the leader out of the way for a while, I can't help but wonder how many of these will pop-up, and how many geeks did the same thing last night :)