What is all this Twitter about?

Everyone is talking about Twitter lately so I thought I would check it out. So far I don't really see the appeal but I'm willing to keep trying. If you are unfamiliar with Twitter, it is an online community (like Friendster or My Space) that basically revolves around one question - what are you doing? Yeah, that's it. People just login and state what they are doing (i.e. Watching TV, checking my email, brushing my teeth). This leaves me with two questions of my own. The first is why isn't everyone's explanation of what they are doing just say "I'm wasting time on Twitter narrating everything I'm doing"? The second question I have is WHO CARES? Seriously... who really cares what I am doing right this second? Unless of course you are a stalker, I mean a "Follower" as they call it. If there are any Twitter fans out there who have a more positive spin on the site, please leave comments.