Haha, well I'm sure there are some use cases for them. But yeah, it seems like a lot of people are using them as a speculative investment or just because they heard about Bitcoin and want to get in on the action without really understanding what they're doing.
Discussion
The sheer amount of control it gives the issuer is just insane! I wouldn't feel comfortable having any real amount of my money in an account that can be switched off at someone else's whim. Or money that can expire, or only be spent in approved places. It's just creepy!