Discovering Pinterest

I've seen Pinterest about on quite a lot of craft blogs in the last couple of months but couldn't really figure out what it was. So when I finally figured out what it was and what it does and WHY I had seen it mentioned so much recently I thought that I would write a quick post for anyone else who hasn't quite caught up with the latest social media platform.(Hopefully I'm not the only one to be slow on the uptake of these things)
Pinterest is basically an online pinboard where you can "pin" pictures of things you like. These can be pretty much anything but obviously I really like it for all the crafts stuff!These "pins" can then be shared with other people and "repinned" or "liked" or commented on. It is such a simple idea, but seems to work. Not only is it the basis for another online community but it's another way of getting your stuff seen because every "pin" is linked back to the original post or website that it came from. 
You can have boards for different things as well, so for instance my boards are:
Cross Stitch
Crafty Bits
Geeky Stuff
My Blog Stuff
(I know they aren't the most imaginative titles but they get the point across.) 
I quite like this idea, it's a new slant on the social media idea, with interests at the core rather than games or statuses. I think it works quite well particularly for the crafter community because it is a new way of sharing all our homemade goodies. But I will admit that I was rather unconvinced to start with.  What do you guys think? Do you like it, or do you think that there are too many forms of this kind of thing out there?