Screw cap is the new cork

Went to a Christmas party over the weekend and had the opportunity to try a sauvignon blanc from New Zealand. It was quite nice, but we were surprised to see this $50 bottle of wine with a screw cap. Apparently, it's a trend in the wine industry and has taken off in New Zealand.
I also got a chuckle from drinking that 'spensive wine from a plastic punch cup. (The wineglasses were all used by that point in the party.)
I think the plastic punch cup would have been more suitable for the "American classic" pictured at right.