The LizardSquad thing seems to have a lot of parallels with Lulzsec. Both groups "appeared all of the sudden" on the online scene. Both tried to make a lot of noise in the shortest time possible, seemingly "just for fame", with no long term plan or vision for why they started doing that in the first place. Both started giving interviews to the media.
It almost reminds me of all those fake terror plots the FBI is creating to keep people scared, by finding naive people to turn them into terrorists, and then "set them loose" onto the world, to remind people terrorists - or in this case, cybercriminals - still exist.
Maybe I'm just way off the mark here. Hopefully I am.