Exactly. The main part of having an email list, (for Internet marketers), is to have an awesome connection so that they eventually will get a few sales from you. In order for them to really do that though, they need to provide useful info. Most of the time, these IMers are just lazy and try to sell you a product every other email. That doesn't work, obviously.
BUT, for other companies, like Brick and Mortar real world businesses, it is different. They don't need to send out emails every other day, just a few times a month with promotions and discounts, coupons, info, etc.. Who do you think makes more money in the end with less work? These people.
When dealing with a list you just have to remember that you are dealing with real people. If you remember that, you will be golden.