Okay, I will say this. I also agree with you, Filigree. However, my posts aren't about those who jump at the first few publications to say yes. It's about those who went through the first few hundred agents and publishers to say no and then decided to go with a new one like Merge. After two or three years of attempts to get their beloved first book published, it's not so bad to go for the new kid on the block...even if it's just Mama Cass and her daughter (who also tried that many sources previously and decided to do it themselves).
Yes, it's not a 'real' credit to do this and it will tie up the work for the foreseeable future. That's not much of a risk when you've already exhausted every other option and want to fool yourself into believing a new company like Merge will actually promote you.
I would never suggest someone do this as a first, second, or fifteenth option. It might be a route to go if you have exhausted 95 percent of the other routes and all that's left is a group of new publishers and PA.
My two cents,
David
PS. As for myself, I have a couple of older manuscripts that I'm seriously considering self-publishing. There's a simple reason. I've already tried to attract agents to them and failed. (Although one I've barely tried...I think I posted about that one somewhere) I feel those two books still should be published and that someone out there might want to read the story, even if the agents feel that it's 'not right for them'.
One more edit: I'm also wondering if I'm pulling the convo too far from Merge itself. Am I?