Yes, the term for it is "speedblind" and it has at various times over the years been quite popular. I'm not sure what the UWR for it is nowadays, but I wouldn't be surprised if it was close to if not sub-10 seconds for a single. The time counts only the solving time usually, but there are variations where you count the total memorization and solving times. If I remember correctly, a few years ago, a sub-10 minute time was considered quite good, but the times are probably even a lot faster than that today.