It helped me since I have a severe deficit of cat photos.
Yes, like many things on the net it is surficially, well silly. Maybe stupid. And easy for people to snub noses at.
But dig past the content, and what yuo have is (a) a user generated collection of media about a topic; (b) a web 2.0 tool for remixing the images with text to create new content; (c) a network of tools for voting, sharing, etc.
So swap out cat content with something, say, more academic. This is the way I am suggesting we need to be in terms of "being there" with technology, looking past the way web tools are used for silly things, and looking at the affordances they offer.
My tickets have been booked.