This was actually an enjoyable read. The best part for me was making good on the promise they made with BetaList, having successfully featured Pinterest, Mailbox, IFTTT, and so on.
Love the hacks that turn into something useful. I know it may have been a 'trick' or whatever, but this is an example that proves that "scratch your own itch" to build a great product. He could've used BetaList for his own startup, so he built it.
That it was built quickly, using Tumblr, and then evolved is just being fast on your feet and doing good work.