Cooking up ideas?

I stumbled across this site, the halfbakery quite by accident, and i'm still trying to figure out what it is. Looks quite interesting tho..

From what i have gathered so far, it's a place where you throw out your ideas (half-baked or not) to the open where other people can vote for or against it, giving it some sort of ranking which i have yet to decipher, and also allows people to comment on and/or add related links to the initial idea proposal, perhaps of an existing implementation or related product. There are possibly thousands of ideas in there under many categories and subcategories and one can spend hours just browsing through it.. looks like a nifty idea, the site itself.