WTF is Twitter?

It is impossible for someone living anywhere in the world and not having a twitter. Yes I am a hypocrite, I have a twitter, I made it to see what's what, why every freakin' person has one. So I made one, I made a status update, and after ten minutes of staring at the screen, I thought "now what?" and to my surprise nothing happened. Boy was I pissed. Sites such as facebook and myspace both have the same thing that twitter has, this stupid idea of a status update that you must tell people, but they also have other things, such as pictures and chat. Twitter is nothing but status updates, nothing more. It is complete bull shit, it should be banned because who gives a damn if Mitt Romney is eating a sandwich on sourdough with very little mayo. Or when Mario Lopez is on the set of America's Best Dance Crew (worst show ever, and Jungle Boogie? Kinda racist). I totally understand the potential that twitter has for businesses, an article published by the New York Times states "reshaping the world of small business by becoming the new Yellow Pages, one-stop platforms where customers can find a business". But the thing I hate about it is the popularity it has for being something so stupid. How has our society come to this? A site where nothing happens but people go on it and make money of it. I mean it's same kind of people who buy 20 pack of steak at Cosco. How can we love something so stupid, so pointless that everybody has to be a part of it(American Idol).