Essentially it's an exercise in composition over, oh I don't know - content. EXTREMELY likely to be converted to needlessly contrasty monochrome using expensive photoshop plugins that do all the work for you. And if you include diagonal lines you'll make other advocates ejaculate spontaneously because, as we all know, diagonal lines are amazeballs.
You can easily replicate this at home - find a cobbled street, or a building reflection, or literally ANYTHING that's dull as shit. Take the image, making sure you carefully remove any items of human interest, fun, variety, reportage or social meaning then turn it B&W, add an esoteric meaningless title and upload to an elitist, invite only Flickr group. From your Macbook Air.
Not to be confused with Lomography - these jokers are the arch enemies of real photographers.