It is still internet, what ever you call it it still will be big network controlled by DNS servers.
Satellite internet isn't anything and is used for many years.
Only issue is cost, bandwidth, ping...
Free version of internet like this already exists and there is plenty of free transponders transmitting websites (more advanced users can learn how to receive .rar/.zip/.iso/.avi etc.)
Their idea is just a huge free marketing to promote their business. Only new thing is to do it globally as at this moment you can use different providers for different parts of the world.#
All you need is appropriate PCI card and of course satellite dish (download via sat, upload via phone/normal broadband, if you want to spend more you can buy sat-link which will send/download via satellite).
I've been playing with this back in 2003 or 2004.