joe213 Is it going to run just as fast as DragonFlyBSD
Very unlikely
joe213 and is it going to be just as secure as OpenBSD?
Neither ;
MidnightBSD is a one man project, it represents creator's own way of doing BSD desktop, similarly to Slackware for Linux or Tribblix for Illumos (but to an extent it's sui generis: Slackware and Tribblix are customized distribution of an OS maintained elsewhere, while MBSD is a complete independent OS on its own). Midnight can't count on the relatively large manpower which other BSDs have; as such it usually lags behind in terms of features and hardware support.
That said, while FreeBSD focuses on network stack, performance, storage, and isby default tuned for this kind of server, Midnight focuses on building a clean, lightweight, versatile desktop distribution (with a focus on XFCE4 and Windowmaker), and is by default tuned for desktop usage.
It provides its own user-friendly package management system (mports), with optional GUI front-end, and login manager (mlogind).
Setting up a desktop on MBSD is relatively more straightforward than FreeBSD thanks to a setup-desktop script which user is prompted to execute at first afterboot.
That said, like I mentioned above, hardware and software support is more limited and I would recommend MBSD only for legacy hardware with limited specs, or for testing/development purposes