"Generic cover letter" is an oxymoron. Cover letters are supposed to be individualized.
Yes, the first paragraph in the cover letter is almost identical to the opening paragraphs of numerous spam emails. "You're building a great feedback organization product I think has great potential". Really? Well, ta very much; now tell us something we don't know.
This is an excellent point. A point that plenty of hiring outfits still don't get. They're so focused on their needs and their (self) importance that they forget who "the customer" is.
I do web dev. When I see this is marketing agencies I laugh (and don't apply). If you're a marketing agency and you don't understand who "the customer" is then you've got serious problems.
The rule applies elsewhere as well. It's a relationship. If you're process says "welcome all plebes" then that's exactly what you'll get.