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I think there actually are some people who concern themselves with ratings because they want to know that the show is doing well. During times of competition it's a measure of who is doing better and can be used to determine what works and what doesn't.
But mostly, yeah, people want to look more in the know than others and torpedo anything they don't like. Though I can't see that he proliferation of DVR isn't going to make traditional ratings models pretty meaningless before long.
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