Losing 10 games a week, still earns you some points.
Until you're geared or skilled enough to win some games, or until arena is more balanced away from everyone bursting insanely quick, points about the only commodity that makes arena worthwhile.

Sure, you'll eventually need a rating of "xx" to get your gear, but at least you'll have a lot of points to spend.
If you're fairly certain you're undergeared and will be losing anyway, the queue and don't enter is faster and still gets you the points.