Agreed...adding more indicators just gets messy. I understand the concept of having no indicators if the OS can seamlessly take care of suspending applications that are not it use.
But it does start to make the function of the Dock itself as a UI element come into question. Once Applications have been launched for the first time, and presumably bounce through their splash screens, etc, the Dock really becomes exclusively an Application Switcher, not a Launcher, since subsequent clicks on an open and/or suspended Application take you right to it. With no further "need" for indicator lights, the Dock's functionality is further diminished, especially as a stationary element that takes up a good chunk of vertical pixels.
I always have my Dock showing, but with this new paradigm I'm feeling like it's better off hidden...or reimagined altogether. Perhaps it should popup with a gesture or keystroke more like the iPhone running processes bar, or how the "+ Widgets" bar pops up in Dashboard. Let the order of the icons reflect what I've most recently been working on. Between cmd-Tab, the 4 finger swipe, Mission Control, and LaunchPad, the Dock starts to feel like a static space waster, rather than the semi-dynamic tool that it is presently.