The project's founder, Andrew Bernstein, wrote into Phoronix this morning to share Operating System U. The short story is that he and a handful of other developers want to create "the ultimate operating system" built for the user. Operating System U is to be based off Arch Linux, run a modified version of the MATE Desktop Environment, and will use Wayland in place of the X.Org Server. Operating System U also plans to modify the MATE Desktop to make it better while also developing a new component they call Startlight, which pairs the Windows Start Button with Apple's Spotlight.
Those technical goals alone are rather lofty seeing as MATE doesn't even have Wayland support right now, and they hope to potentially have out a development release of OSu in a half-year. Pushing further, the developers hope Operating System U will come pre-installed on laptops and via partnerships with retailers will be the driving force for OSu consumer adoption.
To make all of this a reality, the team is going to try a Kickstarter campaign later this month to raise $150,000 USD for the development of Operating System U plus they're trying to rely on external funding as well. It's a nice thought, but that funding level probably won't go too far for a team of ten with very lofty goals. Canonical meanwhile has invested millions and employing hundreds of developers and still hasn't completely cracked the Linux desktop.
Good luck to the team and for those wishing to learn more can visit OperatingSystemU.com.