I think it’s precisely because the levels of consumer debt is so large that ANYTHING helps. Anything that can help change that mindset, even it its pennies.
I look at my debt and logically I know I should pay off the highest interest amount first. But the psychological boost of clearing two credit accounts in the last couple of months has been huge. Snowball effect etc.
So for people who have NO savings (hi!) and lots of consumer debt (also hi!) and are starting out on this financial path to recovery, i think these things are absolutely brilliant and help you get a better focus on the pennies and, subsequently, the pounds.
Just my own view. I don’t think there is a right or wrong here. My preferred solution involves a time machine and adding ‘financial’ learning to school as a default topic!