Frequent Flyer Programs - are they as bad as the press would like us to believe?

Today I read another article on how bad frequent flyer programs (FFPs) have become.  It seems to be a trendy topic for travel writers, as I've seen quite a few in the last few month.  

There is no question that FFPs rewards are not as easy to come by as they used to be and that there seem to be a few more restrictions.  

But, if FFPs are as bad as the press makes them out to be, why are so many travelers still joining them (we estimate US airlines still enroll over 1 million new member per month).  

One answer might be that the financial and emotional propositions (free ticket to an exotic destination or to see mom, or to go visit a friend, etc) offered by these programs are still very strong, and apparently being delivered.  And, for the more frequent flyers (for which these programs were originally designed) these programs continue to offer very nice perks and services.

But I guess negative stories probably sell more papers.