Is the Hubpages scam a fair assessment…?

Is the hubpages scam a fair assessment of the site policies and the recent fall from grace at the hands of the Google PANDA update? I can honestly say unabashedly and without apology that Hubpages is NOT a scam. I can also state with the same conviction that the site is officially 'dead to me' from a publishing aspect. Hubpages is not a scam, let's start out with that; The fact that Hubpages allows the authors who produce content on their site [for FREE] to take advantage of a Google Adsense share program, that pays a 60/40 +/- split with the 60% going to the author of any given Hub, is rather generous (click on the title to read more...)