My Spotlight came to life this morning! The first time I woke up my phone this morning, I had a little red hat floating around on the screen. At first I thought it was an ad from Go (I'm running Go Launcher), but then I realized it looked too good for that. So, I clicked it. Then a little movie started to play. It's about a little mouse who chases this red hat all over the place but you have to move your phone to follow the action. It's pretty much an immersive environment that allows you to "look around" by moving your phone. It doesn't serve any real purpose, but it looks really cool.
Ultimately, it is bloat. But, it's really well done bloat!