Perhaps not willingly. There are quite a few people out there who do not understand the mechanics of ARMs. Keep in mind that this newsgroup and probably many of your acquaintances represent societies 'intellectual elite'. Scary, isn't it?
Many years ago, the gov't passed laws requiring mortgage brokers to divulge simple interest rates in a standard way, since most people didn't understand the subtleties of the periodic calculations. Perhaps the brokers need to hand prospective customers a chart with both the teaser interest/monthly payment plus a range of possible payments for probable future values of the ARM's underlying index.