From my point of view MLM is scam. If somebody does profit from it it is always the people "on the top" of the pyramid. Those few that started it or did come in at the start. Some MLM companies does have real products, but they usuall sell products at a much higher prize that you can get equal or better products for at a regular store. Some MLM companies dosent even have a real product, and all they sell is replicated websites to camuflate the pyramid game it really is. A few companies can be good, but selling overprized products to family and freinds really is not my cup of tea...
I agree with most of your points, but I won't call MLM a scam...IMO it is just a bad business model where you profits depends on how many people follow you into the it. Most well known MLM companies like Amway do not promise any returns unless you make members under you. Their terms and conditions are clear and I think they follow them.
I would just like to point out that there are alot of legitimae opportunities out there and if you don't make money one one program you have the extra knowledege for the other program etc.
I joined one last month and they have good useful products as well as coupons you can earn money with. Try it here. Their training program is very extensive. There's work to do, but if you stick with it you should make money with it. I've only started a month ago, and I've made a small amount of money, but each month it's supposed to grow. We'll see. In the meantime, I'm trying other online small business.
I agree with the fact that the only people who make real money are those who get in early, I have tried a few times to get in on the ground floor only to see the company fail. I am involved in Acai Plus right now, good product, over priced of course, but the money has to come from somewhere they are still in their prelaunch phase and they just brought a second product online last month so I would have to say they are a good opportunity as their growth is steady but not oversaturated. They also have a nice gimick in that they give out the first bottle free (just shipping $7) I am going to stay in for ayear as the way they have it set up your upline actually places people in your downline through spillover, I have 3 people taht way so far. have a look http://www.acaiplusgold.com