Hmm... Sounds interesting, especially if all of the PCs (as it were) are submissive characters. Because then, even if they lose, they still kinda win. Considered me interested as well.
For a little background, this game is a follow-up to a PvP game called Bondage Arena. It was fun, but often ran into problems with doms and subs both wanting to play, and ending up on the wrong sides of victory in each case.
Part of the archetype I had in mind for this game was that the heroes would not use bondage attacks, but conventional ones, attacking the enemies to defeat them. That way if they win, they get to enjoy the game for winning. Meanwhile, the GM would be played by a dominant person who would be more interested in roleplaying binding up and forcing the players into submission, meaning that if the monsters win, everybody wins, and if not, well, everybody wins for having fun with the game anyway!
So, yes, pretty much, that's the idea. Subby players, dominant GMs. Either the team ends up squirming and the GM has their way with them in a nice fun game-over RP, or the players are victorious, and everyone gets the fun of having won the game. Much better than those awkward moments where a sub is staring at a tied-up dominant and going 'Well, now what?'