The CA part is only to verify that the machine you are talking to is who it says it is.... in reality all this really verifies is that they filled out a form and there is probably a money trial somewhere leading to a real entity.
But I've never understood why the identity is so tied to the transport security. It would make everyone's life easier if HTTPS could be used WITHOUT identity verification (for 90% of cases this would make the world a better place)
We'd still want to purchase third-party identify verification... and browsers would still present this in the same way ("green padlocks" etc)... but even without verification every connection could be encrypted uniquely, and it would raise the bar considerably for a great number of sniffing-based issues would it not?
EDIT: I guess what I'm saying is a social issue: We've put so much effort into telling everyone that "HTTPS is totally secure", that we've left no room for a system that is "Mostly secure, unless someone has compromised the remote system/network" .... maybe it's too late to teach everyone the difference between "encrypting a letter" and "verifiying that the person you give the letter to is who they say they are"