Thanks for posting, feels to me like the core concept was good but that they failed to fully market test the products. Feels like they could have avoided many of the duds by taking a leaf from Kickstarter's book and booking pre-order revenue prior to actual production. I wonder why they didn't try that?
tl;dr
An online community for inventors to brainstorm and pitch ideas they have. The entire community helps refine the idea (name, marketing slogan, features) - and then Quirky picks a few at a time to bring to market (manufacturing, distribution).
Go back and watch their weekly review sessions. They were all publically streamed and had inventors pitching ideas to a panel of Quirky folks like their CEO.