I just spotted www.worstfoodever.com and it looks like they are running a directory script as a review site. When I first saw it I couldn't stop laughing.
Thats a pretty decent unique concept. Perhaps they should have focused on a more specific Country, state or even large city. They could get some decent press if they were acting as a local eating review site.
Not the best niche idea, its already beginning negatively, if something is not desired why would you spend time collecting and cataloging resources on it. Its like setting up a niche dir on all the worst mobile phone retailers, why would you waste time looking for them, lol Is that the future, indexing the bad.
I would prefer a best food directory instead, so that when I am near that area, I can at least tell it out. For worse food, I guess you will need to avoid as much as you can. Actually that does serve a purpose, a warning to the unsuspecting at least.
I think that there are flaws with the concept. First is that no business would want to be listed in it. The second is that nobody seeks out bad restaurants. When your looking for a place to eat you want to find someplace good. At least I do... Then there are the problems with how do you get off the list - once on there are you on for life? Pipes makes a good point about starting a project based on negativity also.
Through the years I've seen quite a few sites based on the I hate you because concept. I love the unique approach and idea. I could see using it if you are looking up restaurants in a new city. So many "reviews" are actually paid advertising and have little resemblance to reality anyway. I would however be afraid of getting sued with such a model. I hope the owner puts as much legalese as they can that the "opinions expressed on this site are not that of the staff or ownership..." to protect him or herself. It will be interesting to see how long the site lasts and if it does take off.