I thought it was just an medium for people to find people.
If its like the one in the movie "Hitch", then I think that's fine. You're just meeting people, and everyone is keen on meeting, and open to any possibilities. You get to know them later if your speed date went well.
It's like what happens at bars when people pick up and numbers get exchanged etc except its an accepted thing that everyone there wants to meet someone.
Although, I personally wouldn't do it unless I was finding it extremely hard to meet people. :/