"loser pays" clauses. While arbitration cannot take away rights of parties, it can add "rights." Loser paying for costs is a big disincentive to lawsuits.
Of course, the reason federal law and courts like arbitration is there is no way the already crowded courts can possibly handle all the cases. Whine about consumer rights all you want, but 90% of civil cases in America use alternative dispute resolution (e.g., settlement, arbitration, etc) to reach agreement on cases instead of court trials. If they did not, raise your hand if you are willing to pay the taxes (not someone else pay, you pay) to build 900% more courthouses and pay for the staff to accommodate the increased caseload.
Why this is news escapes me, other than typical /. ignorance of the law. Almost every consumer electronics contract has an arbitration clause. Every ISP, every cable contract, every car sale contract. They are everywhere. You guys remind me of Louis in Casablanca, shocked, shocked to find arbitration clauses!