The new feature will eventually allow all users to create their own social news lists for chosen topics. These customized reddits will come in three flavors: public, restricted, and private. If you set up a public reddit, every Reddit user will be able to view and participate in the reddit. Restricted reddits will only allow certain members to contribute. And private reddits will only be viewable by their own members.
For the next week or so, Reddit will solicit a “handful of users” to try out the new feature before opening it up to everyone. Mixx has implemented something similar, while we’re still waiting for Digg to do the same. As these social news sites become more platform-like, we’ll see them competing with offerings like Fraxi (covered here) and Pligg.