Good means different things to different people. You get passable coffee out of it at the push of a button and avoid all the prep and clean up work. My wife's a teacher, so this is how she jump-starts her morning at 6 AM.
So, for her, good is defined as convenience. One cup of coffee, no muss, no fuss. I completely agree that there are better ways (environmentally, costwise and qualitywise) to make coffee.
Oh, and the hack is essentially cutting the top off a used DRM k-cup and taping it to the top of your preferred non-k-cup. Not much effort required. And if you have some favorite coffee that hasn't paid Keurig's tax, you can still enjoy it. I tried it just to verify that it worked, which it does.