What do you think about blog giveaway?

Now I have a steady (but small) flow of visitors who doesn't mind sharing their views here, I reckon it would be kind of fun that we are having some kind of small discussion here. It would just be a simple question in the form of "What do you think about..."

The topic of this week is giveaways...What do you think about them? (Actually just skip all these and skip to the last paragraph...the first few paragraphs are just random bitching that's I find pointless myself...I have being wondering that ultimate question in the last part of this post for quite a while now...)
(This is DiorKiss lip Gloss in Granny Smith 309, which has nothing to do with the topic. )

As a blog reader, I don't get excited for that many giveaways because

1) The slim chances of actually winning (Ok , I never joined that much anyway). However, I would still attempt (by countting on that o.1% probability) to join the raffle if the price looks tempting enough for me to waste that 10 second of time to type out something.

2) The prize are not that exciting. An used drugstore blusher or a Stila gloss that I already tried 3 of them? No thanks...I will just by my own.

3) I see that while many bloggers use giveaway as a way to say thank you, much more bloggers use it as a lure to pool new readers. There is nothing wrong with that but I personally don't see the point attracting readers with prizes when there is not anything to read.

4) For example, I used to link The Lancome Blog on my blogroll because I wish I can be in the known for those nice giveaways but then I just realized that it's a bit pointless because I am not interested in the actual content of the blog (which consist of 90% giveaways anyway...)

5) Too many string attached. Many blog owners requires you to actully hit the "follow" bottom and become a member of their wall of posse...I personally don't use the functionality at all (I just bookmark) so it seems silly to follow just for a tube of mascara. Another thing is that they ask other people to post the link...Anyway, if your blog has great content and clear pictures (like Yuki's or Arora's) I will link you 100 times and I don't need a thing from you.

6) It's actually part of 5) you know many blogs make a poster and ask you to post it...well, I think my blog is too pretty for your picture.(Yes, I am a stuck-up...I hope you realized it a long time ago)

As a blogger, I don't like the idea of giveaway because
1) I blog for my own entertainment, so I don't "appreciate" my readers with material good. Instead, I think my info-nuggets would help you spend you money more wisely (at least that's what I think.) Anyway, I don't want people to be here simple for the prizes.

2) I am selfish that I never want to buy things for people I don't know. (I know Pixie is a Chem E, Rocketqeen is a MAC artist...but I don't know you guys.) If I have something I bought that I haven't touched, I will ask my friends to take it. (Well, you gotta do something if you periodically raid their fridges and beg them to finishe off your stupid programming assignments...)


Anyway, what about you?
And a random question, have any of you won anything from the giveaways from those super major prominent bloggers (you know who I am talking about) who held giveaways on nice stuff on a weekly basis. I personally have seen post like " I won Fuz's giveaway!" , "I won from Lancome Blog" and "I won (insert unknown blog name here) giveaway!" but I have never seen anybody bragging about winning from the big ones...(And I never seen them annoucning winners on the post.)

I am guessing since they have a huge reader base, the picked winners all happen to be the silent readers...But come on, none of them owns a blog? Am I too suspicious?