I think that it what is wrong with the breed...too many cheap ass "puppy mills" turning out poorly bred pitbulls. Yes I had a pit, and I paid 1900.00 for it and saw 4 generations of the pups paperwork and history before agreeing to buy it. Most people I know with pits either have no idea of its history outside of the parents, paid 3-400 bucks for one, or more often than not its a "mix".
My pit basically only listened to me and feared me, which was a problem for my significant others when I wasn't around. They are very strong willed and fearless dogs which can cause problems with humans and especially other household animals.
I think the poorly bred pits are a danger to people and even the ones with stellar breeding probably don't need to be around children or elderly without supervision. The fighting instinct is always there I believe and it takes a very strong pack leader (human) to keep these dogs in check.
But, as has been pointed out in this thread, you can say almost the same thing about Pinschers, Shepherds, and Rotties.