Sure, but considering the politics involved (Nvidia "moneyhats", if you will, though that's not to suggest it applies in all cases), giving PhysX the cold shoulder, causing insufferable performance for most if not literally all of those interested in enabling the effects, is rather self-defeating. PhysX is largely considered a joke because far more often than not it incurs a significant performance penalty for little visual gains and this is something Nvidia ought to be stamping out, not indirectly encouraging.
I honestly struggle to decide whether I want that solid 60FPS or a locked 30FPS with some of the effects.
Sure, some look weird and out of place (the breaking ice in AC for example at the end of the benchmark) but the floating paper and smoke is pretty awesome as are the added particles. I know that it's a performance killer, but it does look pretty damned cool in spots.
Also, I honestly had more performance issues with the DX11 features than any of the Physx stuff. Turning off Tesselation and HBAO gave me a huge boost not incomparable to knocking down some of the physx settings.