Well, I feel rather strongly about this - I met my Significant Other this way.
He is wonderful! Handsome, generous, funny, smart - everything I wanted and more! Had I not weeded through the rest (no one awful at all) I would never have found him.
Importantly, we were both very honest about ourselves because we were both seriously looking for our last relationship, not just dating.
You can meet liars and losers in church, through mutual friends, at the grocery store - so why is on-line considered so risky? I really don't understand why, if you have a disappointing "meet" that the whole concept of on-line dating is blamed. You have a chance to meet so many more people to choose from than the traditional ways of meeting. I thank my lucky stars that I did not give up before I met "the one."