The "What" of the project is described on our main page. As for the rest...
Why do this? We believe it's necessary, for multiple reasons, but in a nutshell:
Centralization and proprietization of media on the internet is a serious problem and makes the web go from a system of extreme resilience to a system of frightening fragility.
Also, people should be able to free their data from proprietary control.
If you're reading this, chances are you already agree though.
We are goblins who live near the Earth's core. We number one and twenty and we like to eat french fry sandwiches, though we accurately refer to them as chip butties.
A more useful list of the founders of GNU MediaGoblin follows:
Right now the code that we have is moving from base infrastructure to basic functionality. We're hoping to have a better, more feature-ful version that is targeted for people other than us by around September/October 2011. It'll let you log in, log out, post pictures, etc... It'll be clear that we've accomplished something useful, but that there is still a lot of interesting things left to do. Success on this largely depends on both the hard work of the current developers but also whether we can get new contributors.
On that note, please join us as a contributor... one way or another we could use your help!