Okay, while I agree with your sentement about the graphics going along with the warning to be excessive (and simply tasteless (no pun intended)), I feel that you're underestimating the importanance of it all.
While there are other problems in the world, it's unfair and unfeeling to say that we should ignore the growing strata of children in the world who, because of smoking, have a quality of life lower than you could ever dream.
I'm picking on cigarettes for one important reason, and that is I have my own case study. My sister-in-law has had two children. Two girls. Her fist child is developing fine, just it is expected of her to do. Her younger sister, however, isn't farring so well. She has learning disabilities, chronicly poor lower body circulation (to the point her legs will simply stop function for a length of time), and a heart defect.
What happened between the birth of these to girls? After the first daughter was born, their mother took up smoking.
Yes, It is possible that this is all a coincidence.. but I doubt it. The younger of the two now is in very real danger of lossing her legs and being confined to a wheelchair for the rest of her life. Personally, I'd take death from heart disease when I'm 55 versus trying to go though primary school in a wheelchair.
Still, the important, and of understated part of these labels is the word 'can'. Many children are born to smoking mothers (OT: would that be a good name for a band?) and have no complications. But there is group that isn't, and it's large enough to be of concern, especially if you happen to be one of them. Before you call having CP or MD "crap", try living a life with it.