I'm not going to flame you. That's a very fair, and well-reasoned stance.
There's something to be said for the "if it ain't broke..." school of thought.
Yes, I personally wouldn't trust CentOS for an Internet-facing box -- mainly because I don't have faith in their ability to reliably push fixes. But that doesn't mean that there is no valid reason to run CentOS. On the contrary, there are plenty of applications in which the stability, predictability, and binary compatibility matters, but the speed of security updates does not.
Ticketmaster is one such example of a place that needs many of CentOS's features, but apparently doesn't require rapidly-available updates. I can't imagine they're the only ones though.
The nice thing about the various distros is that each fills a niche, and they're not mutually exclusive. If you want stability and support guarantees, you can pick RHEL. If you want the stability and don't care about support or rapid updates, but need RHEL compatibility you get CentOS. If you want stability and rapid updates, but don't care about support and RHEL binary compatibility, you pick Debian. Etc, etc.
So yeah, even if they are late, CentOS serves a purpose -- just as Scientific Linux does, just as RedHat does, and just as dozens of other distros do.