In fact, the Drake Equation is a religious statement. That is, it is a creative speculation using commonly understood symbols to that which are completely unknown to us. It's the same as a couple of cavemen sitting on a hill talking about thunder as being large rocks falling from a cliff in a faraway valley. It makes sense, it fits in with what we know, but it's really just a bunch of guesses connected with symbols that, based on context, we feel social approval towards. It's a mind-hack. And a very nicely executed one at that.
The reason I didn't use the "R" word, religion, is that folks see that word and stop thinking. They give you an instinctual answer. No way! I'm not religious! etc.
The Drake equation basically says what anybody who has looked up at the night sky knows intuitively: there are a lot of stars out there, and it's extremely unlikely that we're all by ourselves. It just does it in a way that makes us feel like we're receiving some sort of imparted scientific wisdom, instead of what it really is: creative speculation. In that sense the formula itself may be total bullshit scientifically, but what it tells us about how science and religion play with each other is very important. People look at it and just feel that there is some truth there, and there is, but it's not the same kind of truth as f=ma, although both statements are expressed mathematically and have the same air of seriousness around them.