It’s certainly an interesting concept. The site features an intro video from Will Arnett (Nicely embedded in HD by the way) inviting people to the event. It also allows users to interact with each other by uploading their own videos to Pepsi’s YouTube Channel. There will be guest appearances by YouTube’s “most famous celebs” and there’s even a link to add people to the Pepsi’s event page on Facebook.
While this is a very cool idea it doesn’t seem to be gaining traction. As of this post Will’s intro video only has 44,181 views and the follow up video has only 216 views (yikes!). The Facebook Event page reinforces this perception with only 213 RSVPs. That’s not a lot for a party that goes from 7 AM to Midnight. (Really? That long?)
I believe this missed the mark because it focuses on people who don’t participate in Super Bowl Sunday. Will also brands these people “losers” which doesn’t help. Plus I think YouTube assumed their YouTube celebrities would promote their appearance. That doesn't appear to be the case. I searched around YouTube and couldn't find anything.
It seems this would be a bigger hit if Pepsi fused it into the Super Bowl as opposed to playing against it. Perhaps it could be part of an alternate Half Time event or part of the pre-game coverage. This would allow you to market to the vast majority of Americans who watch the Super Bowl and would allow Pepsi to showcase the best content they have as opposed to trying to fill 16 hours of time.