The name was the part I liked best! "Scuttlebutt" is a naval term for a water keg, and it became slang for conversation around the watering hole. In other words, it was gossip around the water cooler from before we had water coolers.
...and this is why 99% of niche developer attempts don't flourish into the next big social network. Might as well call it "Codswallop", which is also a valid historical slang that is equally completely ridiculous for mass appeal.
It was never meant to. It was founded by a guy who lived on his boat and wanted something for his friends. It became a hotbed for experimenting with P2P social networks, for a time.
...and this is why 99% of developers will defend for-profit companies stealing data, enabling mass genocides and foregoing all privacy: because everything must become the next big XXX.