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This may be speculation on my part, but isn't the only reason you need Snow Leopard because it allows access to the app store? Also look at this (from apple site):

"Installs in place
Installing Lion from the Mac App Store is quick and easy. It takes only one click to download, then a few more clicks to run the installer."

So it downloads a free standing installer (4GB). Seems like an awfully large file unless it is a complete system install i.e. not an upgrade.

I dunno maybe i'm missing the point here. I suppose it's unclear whether you can choose to install it on a blank volume/partition or whether it demands to be installed over snow leopard.
 
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