[gnunez]

The 555 timer is considered one of the most successful chip designs in electronics. It has a simple, well understood, design. The timing on the 555 can be configured to generate a periodic signal using just a few resistors and capacitors. The 555 is often used as a timer in electronic circuits. The Linux scheduler is usually configured to respond to interrupts generated by a cpu. To replace those cpu interrupts by a simple 555 timer is impressive due to the unconventional nature of the setup.

[javcasas]

Also, the 555 is an ancient chip, that pretty much appeared as the basic chip (along with it's friend, the 741 general purpose op-amp), being the two of them the protagonists of pretty much 70% of the hobby circuits in the 80s.