I LOVE faded blue jeans because I love light blue. See my pieces below. I prefer light blue jeans to dark blue jeans by miles.
Personally, I don't wear torn or shredded denim because it's not my thing, (not suited to my style or personality). Greg laughed and vigorously shook his head when I accidentally ordered a pair that I modeled for him. (I didn't know they were torn from the online photo). Enough said.
That said, torn and shredded denim absolutely has its place in fashion. Much of today's fashion is about juxtaposition. Torn jeans are a great way of creating that hectic juxtaposition, when worn with dressier pieces, or uber casually with fashionable intension. I shop lots of distressed and torn denim with clients.
My only gripe with torn denim is that there is too much of it at the moment. The market is saturated. A little less of it will bring back a happy medium.