As a fairly heavy user of snapchat I see all these comments about it failing due to poor security just plain wrong. Almost no-one uses it for the security. Its about the lack of cost if the picture is 'wrong' or poor. Sending selife's or pictures of what's happening in your day is a nice way to keep in touch with someone. It feels more personal than text or voice and is much easier to do. Who cares if its a bad picture or a little boring, its gone in 10 seconds.
Maybe some have a usecase for high security (nude pictures etc) but that isn't the largest market, or at least in my experience.