I like BOMs! I've done them where it's from a kit, and more where you have a pattern but choose your own fabric. The kits I did were thru the mail. The odds of someone I know having the exact same quilt are slim!
Of course, it's fun to create and design a totally personal quilt. But it's also fun to share the experience and see what choices you fellow BOM-ers make with fabric, settings, borders, quilting, etc. And sometimes you just see a lovely quilt and want to make it --even if it's a kit!