Lattice Boltzmann equation: Failure or success?

The lattice Boltzmann equation (LBE) is a microscopically inspired method designed to solve macroscopic fluid dynamics problems. As such, it is located at the interface between the microscopic (molecular) and macroscopic (continuum) worlds, hopefully capturing the best of the two. In this paper we shall discuss whether or not, after almost a decade since its conceptualization, LBE has lived up to the initial expectations. Open problems and future research developments are also briefly outlined.