Regardless of the future state of bpt.com, I will continue working on picturetelephone.net and will be making improvements in user experience and site quality, as well as additional features I always felt were missing from the original bpt site. When I get to it (I am currently busy studying for exams), I will work on creating a robust social networking system as an important part of the site (features will include a user profile page where users can comment on your work, friend lists, private games, and more). I believe that a website like this is fueled by good functionality, but is truly kept alive by a lively community which enjoys playing together.
To answer your question, I have high ambitions for this project, and I think it truly can go a long way beyond bpt.com.