What I find most interesting about Mughsot is the team's total and no-bullshit commitment to making new and interesting software which doesn't suck.
I love the way they say their design process "isn't a checklist of activites you must do - it's an idea list, suggestions for how to work smarter". I love the way they prototyped a photos feature using flickr but were willing to drop it again after trying it on real people. I love the way they lock themselves in a room, leaving their laptops behind, and give themselves the time to hash out ideas properly.
I hope Mugshot itself is a success. But, more than that, I hope they help change the way the rest of us make software.