It's such an easy metric to game, though ("The first line is 'import library_that_does_everything'") - It's a proxy for succinctness, at best.

That said, "[something non-trivial] in only 250-500 LOC" is often more interesting than "...in only 5 LOC", because generally anything that small is just gluing together libraries. There are exceptions, of course - I've seen impressive stuff in just a few lines of J/K/APL.