Foursquare: Is it just Hype? Or is there something more?

http://rubenquinones.com/2010/03/23/foursquare-is-it-just-hype-or-is-there-something-more/ Pajamacast#2 Foursquare is proving to be more popular and growing by the day. Only thing is, it seems like a game with badges. Is there something more to it?