It is not link crawling the entire web. Instead it is trying to find information that is current. You'll find relevant and current information from the BBC, CNN, and NPR for example. As well as stuff from places like LowTech magazine, the CCC, and FSF, etc.
I haven't really put any information on the page at all about it. But mostly it scratches my own itch. But I wouldn't see it becoming a competitor if you're looking for "anything & everything", ever.
(Though that 2 hours is actually you watching the nginx cache expire. The database updates hourly.)