I don't think all PsyD programs are horrible. I have seen a few that really do turn out good candidates; but you do seem to have to be more careful with these kinds of programs. With that said....
This past summer I flew out to a PsyD program to see what they had to offer. Obviously, no funding. However, I was disturbed by a few things going on at this site.
I asked them about the licensure exam and if they had people passing it in other states with higher required passing rates. This program was in a state that had a lower passing rate than say Illinois or California. When I asked this question, they said I was mistaken; that all licensure exams had the same passing rate regardless of the state. This is obviously false.
Next, I asked them about funding, such as how are their students are paying off their loans, could I get a locked in tution rate, etc. To the locked in tuition rate (granted I understand if they would not), they laughed in my face. This made me feel horrible and an idiot since some undergrad institutions do offer this option. When I asked about the loans, one of the advisors said: "I didn't have to worry about it because I had my graduate tuition paid for." Excuse me, but that does not help me in the slightest! Furthermore, when I asked about assistantships, one of the students said: "You wouldn't have time for it anyway." Very rude if you ask me.
The director also kept going on about how it looked good that we had come out there, but she never took down any of our names! I was glad I got to see the area because it is such a beautiful part of the country. However, I felt that going to their open house was such a waste of time. Furthermore, they were very rude to me.
There are other things I came across, but none worth mentioning. I'm very concerned about a place that doesn't even know that the licensure passing score varies between the states.