Thiphone Straps Your iPhone to Your Thigh For Some Reason

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This is either completely ludicrous or completely ingenious: the Thiphone. It's a holder for your iPhone that wraps around your thigh, letting you rest it there without risk of falling off. Hoo boy.

I mean, sure, maybe once in a while you'll want your phone strapped to your thigh while you're sitting down, but are you really willing to part with $30 for the privilege? Maybe I just don't use my phone in the way that people who this is designed for are using their phones. I'm trying to give this a fair shake here, but it's tough. Commenters, what say you? Is this useful or just another unnecessary, overpriced iPhone accessory? [Thiphone]