Why is a Proof to Fermat's Last Theorem so Important?

I have been observing an obsession in mathematicians. logicians and number theorists with providing a "Proof for Fermat's Last Theorem". Many intend to publish these papers in peer reviewed journal. Publishing your findings is good but the problem is that a lot of the papers aimed at providing a proof for Fermat's Last Theorem are erroneous and the authors don't seem to realize that.

So

Why is the Proof of Fermat's Last Theorem so much important that a huge chunk of mathematicians are obsessed with providing the proof and failing miserably?

What are the practical application's of this theorem?

Note: I am not against the theorem or the research that is going on the theorem but it seems to be an addiction. That is why I thought of asking this question.

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