Its a cult.
Start with the shakey cam effect, often added post production, which does what no human head/eyes do during fast movement.
(And often used to cover up poor quality fight scenes)
Second using an incapable camera person, the camera jumping around like my grandma doing video on her phone. Steady cams, and gear, and booms, are a century old!
While I am open to looking at all modern issues, I'd prefer getting rid of purposeful garbage first.
Hopefully this image search [1] answers your question. The photographs in each of these was "simply taking a photo of a street, a common real-life thing". Yet, when you look at them, almost every single one of them is highly stylized. Whether it's simply by being B&W (yes that's not reality), having pronounced bokeh, strong silhouetting, or even vignetting, etc. They're all absolutely not what I'd call realism.
Realism is just boring. And artists don't find much appeal in producing it.
[1] https://duckduckgo.com/?q=street+photography&t=osx&iar=image...
But for the kind of movie that's supposed to take place in a world very much like ours? The kind where it's just a camera filming actors in a street or whatever, and there's no intentional impressionistic art style? An "impressionist" frame rate is totally inappropriate in such a context.
EDIT: I'd actually be very interested to know why people are downvoting this comment. I'm accepting that there can be artistic merit to low frame rates, but I'm rejecting the idea that impressionism should be forced on art which isn't trying to be impressionist. What's objectionable?