The idea is to get into the money. If you are low stack that that's the best way to get there then its a fair strategy. Once in the money a lot can happen. I have noticed that in freerolls and low stakes tournaments as soon as players are in the money they get real loose. A lot of all-ins and calls. If you bide your time you find you have moved up a few notches on the payout chart without having to do much. That makes squatting worthwhile.

PS - There is usually some jackwagon at the table telling you to hurry up. Put him on mute and build your bankroll.