Okay to say this is a common scenario would be an undersatement.

EP limp, MP limp, CO limp, BU raises to 5xBB, blinds fold
EP call 4BB
MP call
Co call

I've heard the addage "I'f it's good enough to call with, it's good enough to raise with" which seems true enough; I mean, it's better to be the agressor for a number of reasons.

Despite this, it seems everywhere I play poker people limp-call repeatedly. The phrase "in for a penny, in for a pound" comes to mind. I understand limp-raising a monster from EP, possibly limp-calling small pairs, but wtf? It seems many people just start dreaming about the flop and / or want to see it badly for one reason or another.

Yes, I understand that after 2 limp-calls, the Button is getting good odds for the go-ahead, and the principle regarding that move. I guess the my question can be dumbed down to the following:

Is limp-calling as stupid as I think it is?

Secondary: When do you limp-call and with what?
Yes I limp call consistently but not nearly as much as I see other do it.