Lomography - phenomenon or fad?

[job sy]

So I was just looking through some flyers I got from the B&H workshop and found a new term ("lomography") and decided to do some research. Apparently its a growing trend, but you guys can decide.

I don't want to bore you with the details so if you'd like to read up on it, here are the links:

Wikipedia Definition
Lomography Website

I guess the whole premise behind this is the artistic and simplistic approach to analog photography to document daily life. The 10 "golden" rules are:

1. Take your camera everywhere you go
2. Use it any time – day and night
3. Lomography is not an interference in your life, but part of it
4. Try the shot from the hip
5. Approach the objects of your lomographic desire as close as possible
6. Don’t think (william firebrace)
7. Be fast
8. You don’t have to know beforehand what you captured on film
9. Afterwards either
10. Don’t worry about any rules

What do you guys think? Phenomenon or fad?

[BPeterman]

If it's a fad, it's been a fad for years... I wanted to get into lomo, but am too lazy as we all know...