NaNoWriMo? :S

So I just learnt that November is 'NaNoWriMo'. A somewhat bizarre contraction of National Novel Writing Month.
http://www.nanowrimo.org/

Before I go any further... National? Talk about plucked at random for aesthetics. Seems this is taking place internationally.

Anyways. The concept is that people, presumably writers already, attempt to write a 50'000 word novel in the 30 days comprising the month of November.

O_O

Why? Why exactly? For what purpose? This strikes me as a major waste of time. In fact, an incredible waste of time. Oh sure, the actual writing really only boils down to like half an hour per day (assuming you can type around 60 wpm+) but what is the end result gonna be? Shit, that's what. The chances of you formulating a decent plot and typing in a manner that you would usually edit in at a later stage are slim to none. The end result will be a hasty, incoherent, hole-ridden shambles. Seems like a worthless exercise. I had enough trouble fitting Bitesize around my working life and that was far from novel standard. So guess who won't be participating. Me. I'll leave it to the people who have more free time than sense.