It's not that bad once you read into it. It's not bad at all. Google displays my recommendations to my friends, and since I only really like/+1 things I would recommend, it seems natural, and maybe even convenient.

Unfortunately, the crux of the issue may lie in consumer protections. While you and I may know exactly what we're endorsing, the average consumer probably does not. The average consumer probably also does not understand that their friends also do not. Otherwise, we wouldn't see so many "FREE $500 COSTCO GIFTCARD - CLICK HERE" posts on Facebook.

TL;DR: While I haven't formed a cohesive opinion about this, the problem with endorsements lies in the average case--not in the best case.