Design comps, layouts, wireframes—will your clients accept that you go about things the facile way? Authorities in our business will tell in no uncertain terms.

Not so fast, I'd say, there are some redeeming factors in favor of greeking text, as its use is merely the symptom of a worse problem to take into consideration.

You begin with a text, you sculpt information, you chisel away what's not needed, you come to the point, make things clear, add value, you're a content.