Drupal Gardens is a hosted version of the content management system with aim to please. As Buytaert put it, “Think of it as Wordpress.com or Ning, except that it comes with the power of Drupal. Equipped with multi-user blogging, commenting, forums, custom content types, and advanced user management, Drupal Gardens should be a great tool for organizations that want to build social sites."
Needless to say it's a pretty big move for the platform, and it will certainly be interesting to watch how it does next to popular alternatives.
Sick of losing sleep over installations or upgrades? The team plans to release more registration codes during the next few months, so make sure to request on here.