> But there are so many people into it, that I feel I must be missing something obvious and it bothers me.
As someone in favor of squashing, I can say that I don't want to see things like "oops, reverting last commit" popup in my git history, especially if I'm browsing history or bisecting a bug. That's noise - useless data. OTOH, commits should be the Minimum Necessary Change to accomplish a well-defined goal. The code itself should always be clear on what it is doing, otherwise it's badly written. If it's "deep magic", then comment it in the code as such.
That being said, I do think that reasoning for why a change was made, at every level, should be in the commit message. I'm also not a fan of merge, but prefer squash+rebase.
In all cases/workflows, it can be abused, and people writing bad code, bad comments or bad commit messages will do so until you can make them care to do it better. There's no silver bullet.