Co-Productions: Sad Compromise or Promising Opportunity?

This article about the proliferation of co-productions even between lower-budget theatres in the greater Philly area reminds us of what's become a staple in the regional theatre circuit. 

And so I ask you actors, designers, directors, artistic directors--co-productions: good thing or bad thing?

On the good side: longer runs (i.e. longer contracts, longer gigs), reaching more audiences, more time to hone the work.

On the other hand: Does it allow some theatres to simply get by by "importing" someone else's product? Does it stick actors for too long in a gig they may already hate and takes them away from New York or LA for too long?  Does it water down the content to whatever's agreeable to two theatre staffs? (when trying to accommodate one is hard enough!)

Talk amongst yourselves.