Works just like Ventrilo, Mumble, etc.
It's similar to IRC, except you have to port forward and set up your own server, or have a paid server which can house more people (like a Minecraft server). The problem is, it's difficult to moderate such an environment, and it likely won't last long.
Moderating can be diffucult even if you're ghosting all the channels. Then again, skype or own TS groups can be held within players/guilds etc. Doubt its really a necessity.
Then again, it may be demanded in the future by the time the playerbase grows.