It is based on it but the content updates in real time.
This is just one modified website, you can modify a different website or use a different JS plugin.
We seem intent on enabling an old-style media format that is dying in the background, rightly so. I don't read content online because I don't like flipping pages, I read it online because I don't like sorting through crap. Flipboard is pretty and quiet elegant, so I don't really relish the idea of criticizing it...but the fact of the matter is – it's not a better way to read.
webkit is mandatory only for this specific website. Using http://betterinternet.co you can modify websites without webkit dependency or even create time.com Flipboard style that doesn't require webkit.
Time Mag has ads on their site. As in, they're trying to make money. I'm not sure it's a great idea for you to take all their content, put it on another website, use their logo/branding, and then tell the world you did it. I would recommend not doing that at all.
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[ 2.5 ms ] story [ 49.5 ms ] threadhttp://www.nytimes.com/skimmer
http://tympanus.net/Development/FlipboardPageLayout/