It's really quite elegant if you think about it. It's a highly dynamic language that was designed more than 20 years ago and is still very relevant today as the platform of choice for developing nearly all Mac OS X and iPhone apps. As far as dynamic languages go it's very fast since it's compiled. It integrates seamlessly with C (and even C++).
Just because you don't know or care about Objective-C doesn't mean there aren't plenty of people who do. I regularly see articles about Objective-C on the front page of Hacker News, Reddit, etc.
Therefore although their effort with what they call Objective-J may be worthwhile, it's certain it will never go mainstream.
One significant reason? It runs toooo slow on IE. IF it ever gets fast, maybe more people will give it a shot.
And it's certainly not stopping people from writing apps. There's now more than 10,000 apps on the iPhone App Store alone.