The style is commonly referred to as "metro", inspired by the design of metro signs. The idea is to reject skeuomorphism, and use large, clean typography to deliver something that is 'digitally native'. You could think of it as a direct rejection of Apple's adoption of decorative skeuomorphic designs that bring things into the digital space which really don't belong here.

It's not exactly a bad idea, though it is possible to take things a little too far. Certainty if you observe the trends in web designs recently sites appear to be "flatter", less cluttered and more focused, without the Apple inspired "Web 2.0" glossiness that has taken over from circa 2006 onwards