I used to get it on my phones, but at the current price it doesn't make mathematical sense (to me). After plan purchase if I totally destroy my phone it will cost me $230 to replace it. With Apples generous OOW replacement it's about $320. Based on my history of not buying AppleCare for my last iPhone, I am already $130 ahead.
So, if I bought AppleCare plus last year and didn't need it, but had to completely replace my iPhone this year, I will actually spend less money over the last 2 years ($129+$129+99 vs. $319). That's assuming I only break a phone every 2 years. In reality I have not broken a phone since the iPhone 4 was released. Also, if just one screen repair per year it's $160 total with AppleCare plus vs. $130 without.
Since I don't break phones very often it makes more sense for me to pay out of pocket if I need to instead of having "insurance".
AppleCare plus is available because Apple makes money on it, not to do us favors. Also, most of these insurance/warranty plans make money for companies because most people never need to use it.