There’s a locked thread from last October about the site:
Duplicate of Bitcointalk.
It had no login back then, and still does not have it now, meaning that all the browsing is performed as a guest. Nevertheless, that could be changed at any point in time, and user credentials could be stored for whatever purpose, so it does have potential risk, whatever the intentions.
Functionally, it seems to want to play around with search alternatives, and reduces functionality such as hiding signatures and minimizing the menu. It could be someone’s training ground for scraping, or a latent site for phishing.