Well, This was inspired by the upcoming v0.9 release which makes OP_RETURN (allows you to create immediately prunable output to attach message bytes) a standard transaction output in Bitcoin. And when does get released we will move to use OP_RETURN instead of creating messaging outputs.

So back to your question, do I think this is spammy? No, because this project will never generate enough transactions to matter in the slightest bit to the size of the blockchain. However, I feel the project is important to demonstrate a point which is this:

Bitcoin as a programmable currency protocol has enormous potentials beyond just sending transactions. And OP_RETURN (when it does become standard) has important implications for smart contracts, using Bitcoin transactions to prove / transfer ownership. The objective of this project is to raise awareness in that area. And make developers realise the potential in a fun way on Valentine's Day.

At most, I would say using hash160 output to attach messages is not an elegant way to do this compares when OP_RETURN does become standard. But I believe this awareness that we generate is far more important to Bitcoin development.