So far, from what I've seen, it is considered an opportunity for those who like what they see. Voluntary furlough is not the idea. Of course, if someone wants to "take one for the team" and takes an option that does not fit his situation, that's his choice. I'll bet there are some who see this as a good deal. Some may see it as a way to get around the losses in their retirement plans. Others may see it as a chance to do something with their families previously not possible.
Kudos to NJASAP and NJA. Show me another company where this is possible. Truly, I hope you can, but I doubt it.