Maybe the design is a, um, statement on... jeez.
No, it's just awful.
Random capitalizations, misused apostrophes, missing punctuation.
They seem to be pretty honest about the whole "not paying anything" thing, even if it does take the site owner three sentences under "What We Pay" to get to it.
The big 'red flag' for me is that there doesn't seem to be any advertising going on -- how is anyone going to find this magazine? And how does the site owner plan on getting any money for it or to build any kind of readership?
If it were a forum to display works for publicity or prestige (or, heck, just to showcase personal works or friends' works), I could see potential, but as a commercial venture, I don't see much future for it.