What is amazing is that (at the time of this writing), they've had 205 BTC deposited. At today's value, that's $140,000 USD. For a site that looks to be just over one week old.
In a way, this is almost sort of like gambling. You either get 1.2x your money, or lose it all. Odds depend on the hype of the site.
What do you mean a joke? Looking at the blockchain, it seems to be a full fledged, serious, Ponzi scheme. They're taking in BTC and paying it out again to the early investors.
Even though it is a functioning ponzi scheme, it could still be classified as a joke. I'd go so far as to say if you don't see humor in it there might be something wrong with you.
Although there is the legal question. I'm not sure it would be so funny to tell it to a judge.
In a way, this is almost sort of like gambling. You either get 1.2x your money, or lose it all. Odds depend on the hype of the site.
Cute whois information too: Owner : Charles Ponzi