I used to think it was all just excellent weird fiction, but the more I visit coastal towns the more I'm seeing the Innsmouth Look...
Funnily enough there are only a couple hundred miles difference between the grid refs of the "Bloop" and Rl'yeh if I recall. However, it's all just fiction. Nobody actually cared about Lovecraft when he was alive apart form his peers, it was only after his death that August Derleth pushed to promote his work, and it kind of ran away from there- probably with some very clever, slightly suggestive, marketing strategies that made things like the cults, the Necronomicon and Cultes De Goules etc sound like they might actually be real. Then of course with the RPG in the 80s, very lifelike props in the forms of newspaper clippings were created fo ultra-real authenticity, and I suppose fact and fiction began to blur a wee bit.