Maybe I am wrong---but I think his point is that it is just simply a fad right now and will fade. Your point is it doesn't matter what the reason (or if anyone even knows), money is being raised for a good cause. I think both points are correct.
I can tell you I had no idea what the reason for the challenge was, and certainly didn't know that it was raising money for a cause. Certainly, I don't keep up on celebrity-type gossip, etc that well. But lots of folks at work didn't know until someone explained it to us today.
For example, I had seen the title of this thread but never clicked on it until today because I assumed it was a youtube faze or something like that.
So, I am not sure how long it lasts or if it really is bringing the awareness it should. Maybe it gets bigger and lasts, like the pink ribbons, etc. But, of course, it is good it is raising money. 
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