Seriously though, it’s pretty much the best gift you can give if you simply don’t want to pick the wrong thing. Which is much, much more likely to do if the recipient doesn’t outright tell you exactly what they want.
If someone wants to buy me a physical gift, I always give them exact suggestions: buy x, version Y. Shop at this store, pay no more than Z for it. That way it’s pretty much impossible for them to fuck it up. Can’t get it done? Give me cash instead.
If it’s acceptable to give a gift card, it’s acceptable to give money as far as I’m concerned. It’s the universal gift card without the restrictions.