Whats wrong with Multi Level Marketing ?

I like this article, it neatly sums up a lot of what I have experienced over the last 2 years

Bad Image or Bad Reality?

"Let me tell you about an incredible ground-level business opportunity," and you are invited to a house or to lunch for "a discussion." Funny enough, you feel sick in your gut that there is some hidden agenda or deception. "Probably a multi-level marketing (MLM) organization," you think. Suppose it is? Should you trust your instincts? Is there anything wrong with MLM?

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http://www.vandruff.com/mlm.html