It is kind of strange. It may be because it is unique. People, while wanting to blend in and not stick out like a sore thumb, like to have a bit of uniqueness and personality. I think this fad is similar to the big, poofy, permed hairstyles in the 80’s, or the beehive or long hair on men in the 60’s. The problem is, once everyone is doing it, it’s no longer unique.
Personally I think removing or stretching out a part of the elastic cartilage of the ear lob is a big mistake, as it can’t be reversed- or it will take surgery to reverse. If they want to be unique, why not go for an extra piercing? At least if you regret it, it can close.