Pixelotto is basically the million dollar homepage all over again, but the pixels cost double (100px = $200) and one lucky advertiser gets a million, while Alex keeps the other million.
The initial comments of many experts and others were basically that 'it's not going to work again'. I must honestly admit that I had no idea or an intelligent prediction of whether it would work great or it would be a total flop.
Now, however, one look at the few-days-old site, and you can see that Alex most definitely will cash in another million, as he already cashed in over $110.000, so he's selling pixels several times faster than on the original Million Dollar Homepage.
The real question now is: would it work if someone else came with the idea? The idea is not bad, but I'm quite positive it wouldn't work this good or this fast. There were many good projects based on the original Million Dollar Homepage out there, and I don't remember any of them actually making a million. So, it's a case of fame, virality, and a good idea working together here. Alex Tew is still the golden boy of the Internet, turning pixels into $$$ while the rest of the world is watching.