I'm not sure why Lomography gets such a bad rap. I shoot both. There are times when I just feel like going out and shooting anything that moves. Other times, I like to take my time, set up the tripod, and take landscape shots.
I would love to get a medium format camera, but right now its just not in the budget. My "lomo" camera is one I picked up in a dollar store. I have another camera that my wife picked up at at discount store (5 below for those in the US), I'm going to try out soon. The shutter is directly connected to the shutter release, as long as I push the button, the shutter is open.