Well, it depends on personal insight. For those looking for unbelievable good ROI in no time (I mean those still living in 2013) I wouldn't say it's a good investment. But there's ponzi like companies out there for those willing to take the risk for quick profit.
Long term I'd say it's a good thing. Bitcoin is far from being dead, there's more possibilities every day, and the difficulty growth is slowing. Hardware manufacturers should be careful about what they do as history has proven that mindlessly adding massive amounts of power can be disastrous for both difficulty and coin value and leads to dropping sales. Which means the arms race will probably move towards efficiency. Building 250W 0.8THs miners instead of 1200W 2.5THs versions. I'm sure they will sell more of those efficient machines then of the biggies, so the investment for the manufacturer is a lot less risky. There is a market for big ass miners, but the number of customers capable of buying, running and maintaining those is a lot smaller. If only one or two of those big customers don't buy a load then the impact on sales is quite big already.
So, I'm with Marco Streng when he said you better be mining already for when Bitcoin goes up, because the demand for hashrate at such times will spike. If you have to buy in at that point it will be costly. So, long term thinking, I keep expanding my hashrate slowly. Yes, the value of the mined coins may be less, despite adding hashrate, but hey, that's short term thinking again.
Let's see where this leads to 6 months from now, or 12 months, or 24. Might end up at the bottom, but that's where I came from originally, so can't get worse. Lots to gain, nothing to lose

Oh, to those mining UNO (yes, me included), buckle up
