Is the EU Energy Rating Label Becoming a Gimmick?

[Psykor]

I used to think the A-G rating scale of the EU energy label was quite helpful but the more I read about it online the more I am beginning to think that the differences between grades like A-B are insignificant and manufacturers are sometimes 'cheating' to get an A grade but at the expense of something actually useful, such as say using less water but then not mentioning that the wash cycle takes ages.

What do you guys think? Should it be taken seriously or what is the proper attitude to have towards the EU Energy Label?