I think this is a piece that quite a lot of you will either enjoy (or detest), so I thought I'd pass the link along. I agree with a fair amount of what Ian says, but this chunk of the article in particular sticks out to me:
I'm curious to hear everyone's thoughts, in particular those who have created their own models.My issue with RPM, and really all of the various plus/minus models, is that they are increasingly complex methods for stripping away the context of a player’s production, trying to measure it in a vacuum. It’s an admirable pursuit to some degree and these intricately designed techniques have become, in many ways, the basketball analytics arms race. The problem is that I’m just not that interested in the result. The context and the noise, which these models work so hard to control for, are exactly the things I’m interested in. I don’t just want to know which player is better. I want to know why and in what ways. I want to know what that implies about both the player and team, his teammates and opponents, and basketball as a whole. As constructed and presented, I typically find precious little of that information in plus-minus statistics.
This problem is not unique to RPM, or even to the entire family of plus/minus models. Win Shares, Wins Produced, PER, also chase the same goal–generalizing the “why” to highlight the “what.” But the “why” is what I find most interesting, the “why” is the reason I watch and write about basketball.