The www is a bit artsy for my tastes as well, at least in a programming sense, but making a ligature of www isn't a terrible thing, IMO. It already almost creates its own ligature, especially when used with a serif font.
Heck, a lot of people I know will make a verbal ligature of www - something like 'dub dub dub'.
Heck, a lot of people I know will make a verbal ligature of www - something like 'dub dub dub'.