Hello. Kind of a strange navigational tool used, not sure what it's called. I fear that many of your visitors might misteak the lack of initial content for an incomplete site (like I think smrtalex did). But I love the logo.
The idea that it's a list of "awesome blogs" is totally negated by the submission rules -- pay $1 and you'll be added. How does that ensure quality? To be blunt, your site seems worthless aside from being one of many paid-placement link sites for SEO.