I think it does, since the domain is short and memorable and is associated with Hip Hop in a strong way.
Once developed it's a nice domain that has good marketing potential.
Just imagine how conversations go since the extension is not important on these new devices i believe.
The keyword itself will resolve to the website so then it would go like this:
-Hey man! where did you get that Ringtone from?
-I got it from Ghetto
-What do you mean Ghetto?
-Type it in your phone then!
-Ah, i see Ghetto, cool!
Word to mouth marketing potential is very strong in this case.
Perfect domain for the intentions you have in mind in my opinion.
