the most superfluous knitted item ever?

According to a person very close to me (guess who), the knitted item you see here is ridiculous and superfluous. Actually it is a gift for a friend and I certainly intend to make one for myself, too. Inside is a cell phone, but it could just as well be an iPod (if I had one). I mean, Apple sells industrially made (read: not as nice) items like this one in a sixpack for 29 dollars. They say:

"So add a dash of color to your iPod with iPod Socks, the year's coziest and most vibrant iPod accessory."

So what do you think? Hot or not?