The main use of Pinterest is to show your friends and everyone else what good taste you have. "Look at this collection of bridal dresses I like!" "Check out all these vacation spots I want to go to!"
If you just wanted to collect photos of these things to give yourself ideas, you wouldn't need to share it with everyone. So you have an easy way to show everyone how cool all the stuff you like is, and by extension you are, with very little effort on your own part to actually create or realize (i.e. actually do work) those things into being. Sure there are elements of this across all social networks, but Pinterest has really distilled it down to the lowest common denominator point and click.
More of an indictment of society than of Pinterest itself I suppose. Pinterest or something like it was bound to show up sooner or later.
Care to elaborate? My interpretation of Pinterest is really "visual social bookmarking."