Looks unbelievable at first. How could people be so stupid?
But I use such passwords all the time. I use a variety of websites where I have no need or desire for security. Want to post burrito reviews on burritophile.com as me? I picked something simple and easy to guess, a couple hours and you'll be going to town! (Just promise not to badmouth the Cosmic Cantina.)
My bank accounts? Oops, didn't use the same password.