The concept is about as open-ended as it gets, but I think it belongs better in an anime than a game setting, as you state.
An original and somewhat humorous concept, we've all wondered what we would or could do with god-like powers, now we'll all find out! I fear the answer most likely involves getting our adolescent selves laid as much as possible and getting free stuff. Not much that inspires me there however. Also, what system do we base this on? It somehow reminds me of the D&D games my little brother and his friends used to play, where everyone started with like 300,000 hps and had weapons that did swings into the millions of dmg for no reason other than it was kewl. *sigh*
I have a feeling that this game system could be tweaked into something greater than this description encapsulates, but I think we'd have to drop much of the teenager/Bob humor part of it. As it is, I'm not very inspired by it at all, because I can't see any campaign lasting more than creation and maybe one or two adventures.
The writing is fine and free of errors, and while I can certainly understand both the humor and conceptual intent of the author, I don't think this setting is all that great a choice.


Explanation
Since my web decided to die before I could make any revisions, I thought I'd explain some of the critiques on this system.
When I designed this setting I had a commedic anime style game in mind. Towards that end I wanted to make the core gods ones players and GMs could understand without reuqiring knowledge of various mythos. I was planning on adding info on other ancient gods, but more like a step pattern (Elder Gods (created) > Old Gods (existing mythos) > players) with some overlap between their groups (Greek Gods were one group born around the same time so stick together, but interact with other groups, such as the Egyptian gods), and amungst the groups their respective powers would vary.