I was wondering if in a Blitz or Bullet game this opening can be justified; the black response could change.

 

EDIT: Sorry in the title I meant Bishop, not Queen 

No.

You might win some, but you wont learn chess, and you can play any other move if your aim is to blitz out random moves and win on time. Plus the material disadvantage will lose if you're opponent moves as quickly as you.

Just look at the board! White is a piece down, and Black is the only player with a piece developed. White will probably gain a little time while Black gets his king to safety, but that's about it. In fact, it wouldn't be surprising to see Black combine the open f-file and his extra piece in a winning attack against the White king.

 Gambits. even somewhat unsound gambits, can yield interesting positions where you can exercise your tactical skill. But in the diagram position, White is reduced to praying for a blunder--that's no way to improve your chess.