Why shouldn't someone be able to express themselves by having bright pink text on a bright rainbow-unicorn background? It's not my cup of tea, but I bet it makes a bunch of people happy.
The best solution, imho, would be to have user-styles enabled by default (these could be as ridiculous as people wanted), and then having a standard site-wide mechanism for reverting to the standard style (this would also shut down any background music or videos).
Works well for me. I turn off the annoying ones.
This is true of any privilege. If you take away some right to prevent misuses, you also prevent people from using it correctly. If you could style your Facebook page any way you wanted, 99% would look like crap. But 1% would be works of art. The current system prevents that 1% from ever existing.
(I could think of a million analogies for this. If cars were limited to going 35mph, then nobody would speed. But nobody would be able to drive someone having a heart attack to the hosptial as quickly as possible. 99% of the time, speeding is just some jackass in a hurry. But 1% of the time, it's essential for preserving human life. So it's allowed.)