A quick first stab at it what it could possibly be. I imagine that in the top down map mode you would be able to see where other people were in streetview land (not their actual, physical location). That way you wouldn’t have the problem of trying to show up in a place that was empty if you wanted to see other people too.
I also imagine the would be some vast inventory of objects you can add to the world. (not necessarily just couches)
And also by adding these things other people can build upon them. There would be some form of communication too, but I’m not sure if chat is the right one. I sort of don’t want it to look like Second Life or degrade to Chatroulette-like chat. Maybe it’s audio only but maybe it synthesizes your voice. Or maybe the webcam can read your expressions and translate it into a different pose or something.