I'm not sure it will change things for some of the larger LSs (like the groups who span multiple games, or similar multi-purpose groups), I truly think this is a game changer for Square. If they impliment it correctly, it will greatly simplify being an organized LS. I know I suck at HTML and web layout, if I had a LS it would be pigeonholed into a Yahoo groups page or something similar. However with a (assumed) facebook/myspacish layout tool and a free host almost any one could make an informative and relaxing LS tool.
FFXI:Sylph - Perrin 75 Hume THF; Retired (At least from my use any way)
EVE Online:ScraperX; Retired
WAR:IronClaw- Peryn SW;SkullThrone- Grymloc BO; Retired