The Drake Equation

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For those not familiar with Frank Drake and his now famous "Drake equation" - https://en.wikipedia.org/wiki/Drake_equation

It's been 60 years now since this idea was first formulated, and whilst the equation itself contains a couple of parameters that are essentially unknown and basically impossible to quantify with current Science, my own personal belief is that the equation is a bit of a red herring and, really, isn't worth the paper Drake wrote it on.

That being said, I know that a lot of UFO-enthusiasts worship Drake and feel that his publishing of the paper containing this equation started off a semi-serious conversation amongst scientists about the possibility of extra-terrestrial life... what are your thoughts?
 
I don't know if 'worship' is the term I would use. Mainly because it is a derived formula, plus it is pretty much the only tool currently available to help try to answer the question of if there is intelligent life outside of Earth.

If you can surmise at least 10,000 candidates using the formula, that implies AT LEAST one exists.
 
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