Neither. The problem is that your browser handles click events on an invisible layer.
I hope this doesn't mean the end of niche browsers, or at least not those built on well-known rendering engines like WebKit.
A lot of web Javascript would be useless if events didn't bubble, and being able to define invisible click areas is useful in a variety of contexts.
Sucks that a few people are going to be malicious about it but I think the benefits outweigh the drawbacks.
Invisible click areas as you called it are not the same as multi-layered click targets imho.