I strongly disagree. While I'm usually also one to rail against extraneous whitespace, I think it's important to consider the purpose of the list. For example,

I strongly disagree. While I'm usually also one to rail against extraneous whitespace, I think it's important to consider the purpose of the list. For example, if I'm searching for a contact in a contact list, I want as little whitespace as possible, because I want to be able to quickly scroll to an individual item very quickly. This is really a "searching for one item in a list" use case. In this example, 99% of users won't be looking for any one specific thing. The whole point of the site is to show new stuff you aren't aware of. In that context, the fact that the scrolling behavior optimizes for stopping at each item it turn (lots of whitespace, the animated fade-in) is a benefit, because I won't know anything special about one product versus another. Also, the experience is clearly optimized for mobile. And the type of "daydream and browse" experience that this site is geared towards screams mobile use case.