I think it's neat. Sixty seconds, a random word, a little blurb of writing. Perhaps it is the equivalent of a literary one night stand (one minute stand?) but there's something freeing about it. The blurb doesn't really matter. The word doesn't really matter. Just the act.
Which, put that way, it does make it sound like a one night stand.
Dude. I may just be a literary whore.