Is anyone currently working on something along these lines?
Yeah... this concept keeps coming up, so maybe there's some demand there. It's hard to see what problem it really solves though -- especially vs the problems it creates.
If you are making a website and don't want to attract users...why would you want a popular name?
If you want a solid base of users in a different ecosystem and don't want to pay the fee...why not make a Facebook page?