It plans to accumulate content from anyone willing to play where each page (he calls it a lens) is a self-contained piece of expertise on a single topic. Seth believes this will help make searches much more productive and allow an army of individual mini-experts and bloggers to promote their wisdom to the world. About.com meets Wikipedia.
The free e-book accompanying the launch is a great, fast read with real insights, I think, on the future of search. Whether or not Squidoo gets to critical mass, the concept is cool.