Don't feel bad.
Basically, it's a month long writing "contest" in which participants aim to write a 50,000 word novel in the space of a month. The point is to write as much as possible in a short amount of time, following the "just get it down on paper" approach to writing.
I toyed with the idea of doing it this month and even set up a profile, which was silly of me because I *knew* I wouldn't be able to do it.
Otherwise, my feelings on the matter are completely elitist and I shall refrain from saying more so as not to offend anyone.