It looks to be a promising competitor against other "secure" messaging apps. With the major selling points being a encrypted, decentralized, multi platform, messaging application.
But it is not open source, nor is the source available to be scrutinized by the public. Which raises the question of, are they hiding anything? They very well could be, but compared to application like skype, this is a major improvement. No more passwords, just your devices and encrypted data exchange using BitTorrent. This would protect you from someone compromising a similar but centralized service like iMessage for example and making away with all your sensitive data.
tl:dr - There are inherent flaws to Bleep, but it is a step in the right direction and I will recommend it to friends when it is ripe.
And I think its great that BitTorrent is creating products upon the protocol, I have sync on my FreeNAS to sync offsite and to my devices.