The one big issue I see is lack of a small concrete goal.
> Like a blog that allows publishing of content of any size or type (long-form, mirco-updates, videos & photos using oembed, links, quotes) via a single textarea.
Take any one of those things, and you can find entire sites devoted to just that.
A picture is worth a thousand words - so a mockup of the screen layout would be helpful to envisioning this product.