A bit. It's an attempt to protest the recent removal of the basic, ad-free, account level contrary to the recommendations of the recently created Advisory Board. Old basic accounts created prior to the 12th still exist but no new ones can be created. The theory is that is no one posts or comments on LJ for a day SUP/LJ will realize that basic level users are a major supplier of content for the site.

I think this is the original post.