I'm not sure what the fuss is about. Baz's movies tend to feature covers of songs, and I find the production in his movies is better than the scripting, which is fine for at least one watching (but not more). I didn't mind Moulin Rouge, and I think it was supposed to lack a bit of substance.
As for Love is Blindness and Jack White. I could care less whether it is there. If it is there, Itunes people will probably find it via the sondtrack. I doubt it will have any direct acknowledgment that it is a U2 song except in the writing credits as is the case with all covers.
I can't see it sparking an interest in the song, Jack White, or U2. I think it is a great cover but not one to all of a sudden make the song a hit. People aren't going to all of a sudden like Jack White because of it, and Jack White fans probably won't all of a sudden love U2 because of it. In the end U2 will make its money from licensing of the song, and that's probably all they care about.