Minecraft, WTF?

What the fuck is this shit? Why is it so popular? What's the objective? Why are the graphics worse then NES?

1. No story.
2. No graphics.
3. No gameplay objectives.
4. No goals.
5. No level design
6. No sound.
7. No music.
8. No voice acting.
9. Not even finished yet.

And you have to pay to get none of that. So what exactly are you buying here? Sounds like you're paying Notch to do absolutely nothing.