I read all the copy, it is interesting. I went all the way filling the form, until the last question before the submit button. And there it was, the one question that made me (i) stop, (ii) wonder if this was for me and (iii) decide it wasn´t.
(i) What made me stop? The field was asking my Google+ account. They say the community will run on it, that is optional for now, but I will have to have one. As I don't have and don't one, I stopped right there to think if it would be worthy.
(ii) What made me wonder? Why impose such a burden to enter? I start wondering why they would to put barriers on who gets in, not only about Google+ by now, but submit an application that will be analyzed? They will have no idea who are the best people to get in through this questions. The whole thing started to look like a random selection disguised as an exclusive elite fancy club.
(iii) Why I decided not to apply? Because I came to the conclusion that such a community should be open to enter, and the mechanisms to decide how one fits the community or not should be actual contributions on it, not a random, snob bouncer. So for now, I hope someone improves the concept (that promises a lot of value to me), but implement it in a more open way.