From when I first saw this, I've thought it was invented to make conspiracy theories in general seem more ridiculous and take away credibility of some of the more plausible ones. Or maybe it was just an experiment to see how many people would fall for it.
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I have a feeling that the recent rise in popularity is mostly the product of people who are in on the joke and not actual believers.
You're right, even Obama used this to dismiss climate change skepticism:
http://www.bbc.com/news/av/world-us-canada-23057369/obama-no-time-for-a-meeting-of-the-flat-earth-society