What is the point of foursquare?

Is foursquare the most pointless social networking application to date?

I love... LURVE... social media.  I have at least five methods of logging on to Twitter at any given time (and let's not mention my six, soon to be seven, accounts), I have successfully managed to split my Facebook in two by having an account for special people family and real life friends and another for my writing/blogging life.  Sometimes the two cross over.  I also have my blog and all things connected to that - StumbleUpon, Digg, bit.ly, YouTube... everyone within my online social network knows what I like and my viewpoint attached to it.  Probably moreso than my real life friends.

But even I know that sometimes it's time to put down the laptop or the mobile and get on with real life.  What does foursquare actually achieve?  Why on earth would I want to know that someone is unlocking the "Local" badge whilst buying cereal at Asda or is now the Mayor of the number 37 bus? It's not even interacting, which is the whole point of social networking, I believe.

There's no reward other than a badge.  Is it a game or a useful recommendation tool?  Can you trust all of your followers?  Isn't it a bit creepy having all your followers know where you are all of the time; at home or out?  I feel the same about the 'location' facility on Twitter.

You know, if you want someone to know where you are, or where you're going to be, ring or text them to make proper arrangements then interact with them whilst you're together.  When I was a guest on BBC Radio Lancashire, I was trying to explain Twitter to a group of people who hadn't begun to embrace social media.  One of the guests recalled an evening out when a friend had logged on to Twitter to send a tweet whilst they were chatting and all four heads poured over the mobile phone.  In silence.

That, I don't understand.
There's a time and a place for everything, no?
Does this make me the Queen of Fuck All on Typecast?