Man, you guys are really pessimistic. Even when there's a relatively cool idea laid out for you on a platter.
As for working on a design that someone else profits from - I can tell you that there are plenty of working designers and student designers that would gladly do the work for free just to get noticed or have an actual product available that they had a hand-in. It's a dream for most and a pretty fair trade-off in the scheme of things. You do realize how few designers get a chance to produce an actual car, right? And how many of them are stuck designing door handles for Kia? This kind of resume-booster is usually very sought after.
Also, where did it say "Design by committee"? At least the initial overall design is done by one person, then voted on based on popularity. I haven't read more into the process than that yet, so I'll refrain from making anymore observations. If there's something I missed, by all means point it out.
Sure the idea has some obvious pitfalls, but it seems like they have some good momentum and their own community of sorts. Also, at least one car is already built, which says a helluva lot more than "Check out this great idea!" I guess we'll have to see if it lasts the test of time and money though.
btw - website works just fine for me. I had no problems getting the info I wanted, nor were there any glitches. (firefox ver. 5.4.3 on a mac)