read the manifesto and you'll see why: http://feathe.rs/manifesto , its all about the writing experience. and in about being able to have posts not linked among them as normal blogs do by listing them. Its more ment for the social web, that's why we called feathers as each post for us is like a feather traveling on the web via social sharing... think of it like the iAwriter for the web :) Of course tumblr still rocks and for its purpose is ok, we just wanted somethign faster, simpler, more minimal..read the manifesto there you'll find why we hacked this project together.
There are no solutions for everything and everybody, so don't worry, you are welcome and thanks for having shared your points, always nice to hear from others:)
It's not for me either (simply because I'm hacking about with my own CMS and if I want fullscreen posts I'll just add that :), but I like the idea of making it simpler a lot.
Can you please come up with a business model, maybe premium accounts, and then refuse to be aquired, ever? :)
No business model, we just did it for our self as we wanted and envision such a distraction-free writing experience for the web, so we just opening it up for free for others feeling the same way and looking for something like feathers.