It seems to me that a similar fashion statement is catching on with women and even young girls. No, they don't show their undies over their belt line, but they wear the bikini-est (lowest cut) jeans they can find and, even without bending over, affect the good-old-boy-plumber's crack-in-the-back derriere.
I've always liked cleavage. To me it's the ultimate symbol of womanhood. (You got 'em, you flaunt 'em--natch.) I was a little shocked at seeing so much "bunnage" showing up at our summer program downtown, but I must admit, a modest crack looks rather endearing.
The only thing that worries me is, as with cleavage, how many young men are content to just look and admire?