Looks to me like its a kind of meme. Each new person in the line makes the link in their own post lead to the one where they found it. They all appear to be genuine weblogs, and the links lead to specific posts within them so nothing else is displayed. Presumably if you keep clicking long enough you'd get back to a first post, but I have no idea how far back in the series it would go. I clicked links for close to ten minutes without reaching a prime post.