Groupon Craze

Why shouldn't I jump on the Groupon craze?
I have to admit I am not an everyday user of Groupon, but I do have friends that have found very attractive deals by using these types of sites.  My concern is that when someone purchases the deal, the vendor might not have the capacity to accommodate the item or service that one has purchased.  I find myself asking the question, "So if I get a dinner deal will the restaurant be booked up for the next month?".  I'd also like to know how many people purchase deals and do not get the chance to redeem the coupon.  Ultimately the Groupon idea trains consumers to only purchase something at a discount.
Well I get a crazy discount, so why not?
On the positive side Groupon lets new consumers try a product or service with less risk.  According to their website, "Groupon negotiates huge discounts—usually 50-90% off—with popular businesses. We send the deals to thousands of subscribers in our free daily email, and we send the businesses a ton of new customers. That's the Groupon magic."  Overall the Groupon platform fits within my mantra, 'using technology to improve everyday life'.
It must be a good if Google's willing to pay for it...
The idea is so simple, yet seems to work very well.  Did Groupon really turn down a $6 billion dollar offer from Google?  I mean that is insane.  How could Groupon be valued at $6 billion?  Read TIERNAN RAY's article here about this debate.
What are my thoughts?  
If you have a lot of free time on your hands Groupon makes sense.  But what about those time poor individuals who don't want to be spammed every day?  Can we make a better or smarter Groupon using something like Peer (what they call using collective intelligence)?  I asked my friend Jane if she could forward the good deals to me and she gave me two thumbs down!  It might be nice to know what deals my friends have purchased since I'd be more likely to look at them.  I'll join the bandwagon eventually, but for now I'm just an observer.