To be "wasteful" with film... to take pictures "on the fly," to have a "happy-go-lucky attitude" about picture-taking... these words describe the original Leica way (they come from the book of the same name), which was to get away from the old formal type of picture taking where you'd carefully pose your subject, have them stiffly hold the pose ("Say Cheese!")... you know.
Of course, the Leica wasn't "low-tech" (it's a German product, after all), but that kind of off-the-cuff, free-wheeling style was the original intent (not buying one to put on a shelf or in a bank vault, etc.).
This thread's progress is funny because it makes you think: What is art? What is lomography? Is there a high art/low art dichotomy in photography? And perhaps most important: why is your photo better than mine?
Because really, is it? I thought Andy Warhol settled this argument of substance over style 50 years ago...but then again Andy Warhol was the original hipster.
YMMV.
Raymond