I haven't tested it myself but according to CVdazzle it works. So the next question is how long before facial recognition technology overcomes efforts to confound it. Or how long until legislators get involved.
Yes the looks are ridiculous, but most fashion starts out that way. People often look for ways to stand out and being "retro" could enhance the cool factor.
What does someone care if a mugger's facial recognition software "flags" them? And who exactly is being flagged? And if a security surveillance system flags you what is the consequence? Who does that consequence apply to?