I've only casually read that site, but I think most posts here are missing the point. This is not an attempt to update the seven, or even recreate yet another sevenesque design. The brief simply seems to be for a "new performance car" and its up to the community to decide what that means...
Looks to me like its a way of getting "premium subscribers" to pay some bright spark's wages, since I doubt anyone contributing to the site will get a free car out of the deal...
I'll wait to be convinced otherwise, but if I had any bright ideas for a brand new performance car, I'd keep them to myself until someone paid me. Not to say that I don't think the open source concept couldn't be applied to the design and manufacture of real world commodities, but I don't think this little venture has any higher goals than building a subscription base.
iRental for the real world?