I think it can be cool but I'd probably feel awkward in it and I usually like to wear interesting clothing.
I remember when Kanye tried to make it a thing too and didn't work.
Anyway, the "trend" would have caught on by now, it's been incorporated in collections for many seasons now and I don't see it picking up. Marc Jacobs and Givenchy tend to be big trendsetters so I think it's a lost cause.
Edit: Oh but Jared Leto can wear them any time, without the pants underneath.
