Like most alt coins, feathercoin is simply a currency with a different set of parameters than bitcoin. In this particular case, they use scrypt for block generation (which is more ASIC resistant) and the block reward is higher at 200 coins per block. I also believe feathercoin follows litecoin's reward target of one block per 2.5 minutes.
If you believe that the hordes of bitcoins early adopters have alongside the prevalence of ASICs in bitcoin mining are issues, then you may be inclined to adopt litecoin or feathercoin. That said, the market scope is considerably smaller and there really isn't any significant technology differences between Bitcoin and feathercoin thus it's unlikely feathercoin will achieve broad market penetration.