I'm 100% for that. But they generalize and screw a lot of people in the process.
I have one site (I already mentioned it here), a newsletter.
The title for the Adwords creative states something like "Free Widgeting Newsletter". (In my case, the name of the niche fits that to 25 characters exactly.) The description fields of the creative state what they'll learn in the newsletter.
The landing page contains the description of the newsletter and the signup box to enter your name and email to sign up.
$10 min bids for most keywords.
$1 min bid for a keyword [free widgeting newsletter].
I understand that they try to prevent poor user experiece, and I'm all for that. But G kills off a lot of good business models, just because the bad guys out there happen to be pretending to use such models.