Will getting involved with a social networking site help the Beer Industry get it's Buzz back?

I read this article from one of the required blogs the other day about how Anheuser-Busch has recently ventured into the world of online social networking by collaborating with social net, Minglenow to create a feature of the site called Clink. AB is doing this to promote the beer industry and its "Here's to Beer" campaign in the hopes that the beer industry will gain back business lost to hard liquor
Minglenow is a new website targeting the 21 to 36 year old party and nightclub demographic and serves as a platform where its members can find out about popular nightclubs, parties and events in their area, as well as meet and reunite with the people who to these hotspots. Clink, the portion of the site dedicated to the beer industry allows its members to upload photos of themselves and friends "clinking" beer glasses and cans together. Members vote on their favorite picture and the most popular pictures are awarded prizes. Next to the Clink Link is the "Here's to Beer" logo with a link to the "Here's to Beer" website. This website is a very dynamic site with video and provides a lot of information. It tries to show that all the beautiful people drink beer and that drinking beer is very "cool"
I think AB's decision to get involved with Minglenow was a smart decision for many reasons. Social networking sites are were it's at online with so many people spending more and more of their online time "surfing" these sites. Also Minglenow's demographic is the same one that the beer industry's campaign is targeting, which is a big plus. And the network site is focusing on a niche with a lot of growth potential that has been inadequately served up until this point, which puts it in the right direction for becoming a success. Although starting with a site in its beginning stages carries the risk of it not being a hit, the advantages provided if it does become successful make it well worth the effort. The biggest advantage is it cost less to get involved with a business at its earliest stage. Also to participate as a partner right from the beginning in something that becomes a success later will give you more control than if you "hop" on board after it becomes a big hit.
The not typical way Anheuser- Busch decided to get involved with the Minglenow website, by integrating itself into the site, is advantageous since it breaks through the clutter of the more common banner advertisements and homepage takeovers. And it does it in a way that doesn't make the viewers (or at least me) feel like they are being advertised to which gives the campaign more credibility.

Let me know your take on AB's decision to get involved with Minglenow, and also do you think AB's decision to finance the entire beer industry's campaign but not mention any of the Company's brands was a good move? Why or Why not?