I basically agree with what Michael says.
One of the things that Autodesk seems to regularly forget is that Surveyors are ALSO using their product (or at least, trying to use it). They get into this engineer-centric point-of-view, and forget that a lot of people regularly try to use Civil-3D as a kind of super-duper graphical calculator, in support of construction staking.
The whole idea of using Point Groups to control display of points is predicated on this failure to understand how people use the product. True, it can be a useful thing, but not always. In support of construction staking, we often create Point Groups that disect points in various ways. Sometimes it's OK that the Point Group tends to trump the Point and Point Label styles, but often it is very irritating. True, we can generally get SOMETHING useful, but it is not exactly simple, or "obvious", or something that we would want to do because it easily supports our task. (A main goal of software like this should be that it EASILY supports common tasks, not that it supports them in some funky, roundabout way, IF the user sets everything up in this one exact way, and follows this very-specific procedure, or does all this manual synchronization and forced updating...)
One common example of what we do is we use the Description Keys to assign Point and Point Label styles to points. This is the way we want them to appear when we dump points in from a design survey (a FBK file). However, as we work in a file, it can be useful to use Point Group overrides to change this display from the "default" to some other view. For example, many points show up with a description-only in the label. But sometimes, when working with the file, we may want to change them to display a full label, with point number and elevation in addition to description. So we can use the Point Group to temporarily change the display of the points. In other words, we like to use Point and Point Label styles *in conjunction with* Point Group overrides, to make it easier to work in a certain file. The current setup of C3D is not very supportive of this.
Not to mention, if it were possible to use the Point and Point Label styles to control display of points, then we wouldn't need anywhere near as many point groups as we currently need. Instead, Civil-3D likes to use the Point Groups to control display of points. True, this means we can get away with fewer Point Styles, but I'd rather have a lot of Point Styles in my drawing template than a lot of Point Groups. We tend to create a fair number of Point Groups to support construction calc's, so having all these default Point Groups in our drawing template often just muddies things up.
As it is, we manage to muddle through, and get both Description Keys and Point Groups to do everything we want, but with extra headache that should be unnecessary. The "remove points/insert points" dance gets around the worst of the Description Key problems, except for the need to manually keep Description Keys synchronized in a project (which doesn't come up a lot, and can be managed if the user is careful). And Point Groups are just flat-out annoying to use in the current incarnation of C3D, but we get by.