It gets a lot of mention because it's a good lens at a great price. I have the older version of this lens, and it's pretty good. However, if I was going to buy a new lens, I would opt for a higher end lens (more expensive) because this one is made mostly of plastic.
It isn't suited to a kind or type of photography. It's a good lens that can be used for just about any type of photography that you want to use it for. It might be more suited to someones style for a type of photography...but everyone is different. I would like it for portraits, but 50mm would be too long (narrow) for the type of landscape photography that I like to shoot.