[Haskell-cafe] powerSet = filterM (const [True, False]) ... is this obfuscated haskell?

on haskell reddit today powerSet = filterM (const [True, False]) is said to be beautiful / mind blowing. I just don't get it. I can play with transformations until I get powerSet [] = [[]] powerSet (x:xs) = let pxs = powerSet xs in map (x:) pxs ++ pxs which is understandable to me, but no matter how long I look at the original filterM definition it just doesn't click. Is this a uniquely haskell obfu, or is there a way of reading this definition that makes sense? If anybody agrees with me, care to throw out other examples of "obfuscated haskell considered harmful"?