Faucets are nothing but wasting your time. Signature campaign is a good source of making money. But you have to be old member to make good amount of money though signature campaign.
Faucets alone are a waste of time you're right, but the thing is you gotta use faucets + gambling sites.. so if you lose, well that's it, but you can have a chance to win big..
I use faucets and when i reach minimum payout, send it to gambling site, then i play hi-lo and sometimes i can win a lot
If you can get more bitcoin from selling stuff and sig campaign, why spend your time on faucets?
Regarding gambling, it is fun but you can't beat the house in the long run due to the house edge.