Why adsense is worthless

I just started to put advertisements on my blogs and one thing has made itself VERY clear. Adsense is worthless.

Here are my statistics for the last 3 days:

My CTR is obviously low, but I've also moved adsense further down the page due to it's lack of performance over the last two days. I think it has something to do with them making the "click-able" area smaller so that it only counts as a click when it's directly on top of the link. I can't convince myself to use their awful image ad's.