yes it is. the problem with low power factors is the power loss before the meter, which isn't measured and can be huge for large customers.
If at home, I toss a giant capacitor or huge inductor across the line, my meter will pick up all the wiring and heating losses from the capacitors or inductor.
It will not measure the losses to the power company for me circulating 100 amps to and from the power grid. the power companies losses on that will be larger than mine, plus it wastes capacity of the grid itself.
For residential customers in the US, it's just assumed we're not idling huge motors or testing capacitor banks in the dining room, so the utilities don't pay attention to us.