Wattpad intrigued me in the fact that it has apps. I downloaded it onto my phone and was reading my friends book just as I would a book from my kindle app. I then went on to add a few Wolfy books to my library and started to read them.
Granted there is a lot of rough material out there, even a bit of fan-fiction for those who like that kind of stuff.
If you enjoy the community stuff there are tons of groups or clubs you can follow.
And of course if your brave, you can add your own writing to see how the masses judge it.
Overall, Wattpad seems like a polished version of both Inkpop and Figment. I think I'll nose around a bit and see what other goodies I can uncover ;)