Signals are just a software interrupt mechanism, doubling as a way to kill runaway processes. All the things you are complaining about are problems with interrupts in general. Yet all computers since the 1960s still have interrupts, because they allow you to do things you can't do without them. And that's still true when you're talking about signals. Signals allow you, for example, to implement preemptive multithreading (with SIGALARM) or transparent transactional persistence (with SIGSEGV) or buffer overrun checking (ElectricFence, with SIGSEGV) in a userspace library.
However, they've clearly been expanded far beyond what they are necessary or even good for, and lamentably are still not usable for the primary use of hardware interrupts: I/O.