The whole concept of the website seems to be especially cancerous because of the use of the word "meme". A meme isn't a picture with text slapped on, but rather a quite complex concept of the development and evolution of an idea.
I actually love how divisive this is. Folks on reddit told me I'm a terrible person: http://www.reddit.com/r/facebook/comments/syov0/i_made_memek....
Honestly, why does it matter if people use a term differently than you if they're just having some fun?
Sure, internet memes at first began as popular images that were spread across the entire internet, but what's wrong with taking a picture of your friends and slapping some text on it to joke around with them on Facebook?
I don't think there's a problem with calling these internet memes; I just think that the term "internet meme" has evolved to consist of the macro memes that you see used all over the internet and the micro memes you will soon see created of you and your friends.
Memekit.com and BuddyMeme.com sure sound better than Slapfunnyinsidejokesonpicturesofyourfriends.com