It is not, but it's still relevant. It created a lot of FUD for business owners. I was working on a startup in that industry at the time; I can't tell how many times we got the question from prospective customers: "how are you different from Groupon/LivingSocial, because I have friends who got screwed by them."

In the end I decided it wasn't worth the effort trying to build a startup that required hours of our time to convince/train each customer for a meager (<$100 monthly) amount. Way too much overhead.