The movie Citizen Kane is famous for using this technique to magnify publisher Charles Foster Kane, and it worked pretty well in King Kong, too. Similar personality types, I guess. The point is that looking up at a subject gives it a certain dominance over the viewer; we are diminished and the subject is magnified in power and importance.
You can shoot low-angle shots to good purposes too.. You can use low-angles to stress distance and height, increase depth, and capture things like the Northern Lights or even a redwood tree. One or two samples will give you the idea.
Oh, yes, using a wide-angle lens for low-angle shots magnifies the effect. See http://explorationsinphotography.com/2012/11/14/shoot-wide-angle-close-ups/ for an example.
Here are four examples of low-angle shots taken to impress the viewer with the subjects weight, power, size, or majesty.
Low-angle works for people, too. This body builder was 50-something when she started getting in shape. She is about 5-foot-nothing, but she wanted “to show the world what you can do if you try.” This picture does that!