It isn't just a "huge photo app with no value", it is a well funded business that encourages trivial ephemeral communication so that is can gain access to your personal information and serve you ads.

Snapchat isn't an accident, it is a well engineered platform built by intelligent people. However it caters to the lowest form of communication that I can think of.

If Snapchat is having an effect on global culture, then god help us. The business itself may have a monetary value, based on its user base. Its product and its effect on communication is toxic, and should be viewed as the junk food of online communication.