It's mostly sharing and discovering cool projects, tools and people.

I explained some more here - http://news.ycombinator.com/item?id=3579260

Basically, you know how people often ask on HN how did you make that? What stack did you use? It's the same thing, but the tags give you a fun way to find out about other projects built on the same technology. Plus, you might find other creative people you may not have found otherwise.

I love the idea. I think adding a description field to the project and tools pages would make it a lot more interesting.

Thanks! You can add a description to your project after you've created it. I wanted to keep the initial form as short as possible. I will add a description to the tool pages as well.

I seem to have the same problem, i browsed through the site and wasn't really sure what exactly it does or is used for.