Interesting take on things. I agree the Lomo LC-A is a remarkable little camera, I've had one since 1993. But I think the writer saying that Lomography was an early form of Instagram is missing the point that Instagram, Hipstamatic etc. are all digital versions of Lomography and were all created to copy the Lomo/film/xpro 'look'.
It was a nervous time for film photography when digital cameras took off in the 1990s, and seemed set to take over entirely. But with some help from Vladimir Putin - then deputy mayor of St Petersburg - the little Lomo camera became a retro cult classic, and showed film had a bright future.
I don't agree Lomography 'saved film photography', but it did make a contribution by introducing many younger people to film, and the article borrows heavily from the Lomographic Society International's gospel, but an interesting read all the same.