It's too relentlessly public.
It's clearly been designed to minimize all interaction friction - just using the app now generates activity which can be consumed by others and I imagine the end goal is to make it addictive as all hell.
But that's exactly what makes it so creepy.
I really dislike how much it shares automatically. Reporting whether I've read an item is incredibly hateful; privately browsing/stalking is the number one virtue/sin of social networks.
There is no way to delete comments or posts. Worse yet! I intensely dislike how there is no way to delete location checkins. No one has yet to tag me, but is there a way to untag yourself form photos or locations?
I really hate the idea that other people can tag me in locations.
As a nerd, it really bothers me how greedy it is with my data. The photos it takes aren't saved to my phone. There is no way to get my data out. Foursquare and Instagram are pretty cool about this.
The fact that such a well designed app does not account for any of this sets off all sorts of "Do Not Trust" alerts.
I would really much prefer this awesome platform to be used for consuming, and occasionally contributing to my various social networks. On my own pace. When I feel like it.
It really is a great app, though. Kudos to your developers/designers.