It can be used effectively as a marketing tactic to make a business seem more legit and popular than it really is. You have to remember most average users do not know likes / reviews can be faked.
It can also create social signals to Google to gain trust authority.
Think about it, would you buy from a business that had 2,000 likes on their facebook + 20 5 star reviews, or one with 10 likes and 0 reviews?
Marketing 101 guys, it's useful on even some of the most intelligent people. Companies have been using fake tactics like this well before the internet was even around to trick people into thinking they are bigger than they actually are!
EDIT: Some people starting a small business can't even get the milestones facebook creates (ie. 30 likes for analytics data) so fake likes can be a cheap alternative to paying real users to like their page with gift cards and other perks.