Are the ESRB's video game ratings meaningful?

Are the ESRB's video game ratings meaningful?

Kotaku has an article on the ESRB video game ratings system. My take is that this is based on a single anecdote--and frankly, I don't care about video game ratings.

http://www.kotaku.com/gaming/editorials/why-game-ratings-need-fixing-030793.php

Here's a response from ESRB president Patricia Vance:

http://www.kotaku.com/gaming/editorials/esrb-president-defends-rating-system-031048.php