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Old original ЛOMO cameras are a very good excercise in learning barebones photography basics, a perfect detox from shooting digital with Auto, new LOMOgraphy toyshits are a very good excercise in turning plastic into money, using the hipster factor instead of alchemy.
Both have their niche and applications. I really enjoyed having to remember about every single factor of a photo, shooting a Smena 8M. You honestly wouldnt tell the difference in IQ between it and most film rangefinders or slrs people here own, it's almost disappointing.