Most of what you read was wrong: how press releases rewrote scientific history
arstechnica.com
arstechnica.com
The fact that their definition of 'functional' was utterly preposterous is a detail that will be overlooked, along with the rest of the work the consortium carried out.
The best suggestion I've heard is for the ENCODE scientists to produce a few hundred Megabases of random DNA, then test this to see how much would be 'functional' by their definition (my prediction - lots of it). Then we'd have a useful negative control and baseline.