Lolatext - Texting the masses

I wanted to see if a service such as http://www.lolatext.com would be
usefull to anyone here. In it's base form it allows texting your
friends, but it can also be used as a broadcasting mechanism. It
allows uses to create feeds and when others join their feed they
receive the text messages sent to the feed.
I was thinking this last item might be usefull for schools, daycares,
last minute tickets alerts.

Looking forward to your opinions.