Snow is a really popular app in Asia, especially in South Korea, I guess it hides blemishes well and makes people look a "tad" more attractive.
Similar to what snapchat offers, I wouldnt be surprised if a major competitor bought this up, such as Instagram. Instagram has already started doing a lot of their own filters and being under the giant Facebook umbrella, it seems like only a matter of time before this is sold to the highest bidder.