We talked a bit about what makes a Moment in the comments yesterday, and whether Kim's vintage YSL counted. To me, it does, because the dress itself was intriguing, dramatic, and properly fitted, even if Kim as the model is not to everyone's taste. Conversely, I would call this an anti-Moment because even though it will likewise get plenty of press, the dress is a silly version of the same silhouette, and designed to look like it's falling off.
Per the designer, Galia Lahav, this came straight from the Bridal Week runway, and indeed:
Turns out it's just as dumb when you see it on a professional model. I guess... you can rip off that skirt and dance with a quickness?