Er, no. No it wouldn't.
Here's the thing: this app was not released or even authorized by Gizmodo. Somebody named Mark Laroque (whose "company," Larockus, has a non-existent website link on iTunes) merely created an app that funnels Gizmodo's RSS feed directly, put it up for sale, and pocketed the profits. In other words, it doesn't do a damn thing that any other RSS aggregator app already does.
According to at least one feedback post, the app was originally listed at US$0.99; since then, the price has been reduced to…free. We still don't think Gizmodo will be pleased.