True, but it doesn't need to be like that. One can also hold the camera near to one's chest and shoot a little sideways. When doing that, it becones a lot easier to actually develop a feeling what the camera is going to see. I used this technique on the Oktoberfest, when large crowds are moving. In such a situation, you wouldn't have any chance to take any reasonable pictures from the hip or from any low point of view.
OTOH, when in large masses of people, you don't have to worry so much about being inconspicuous, because the people's attention level will be much lower. They will worry much less about what you do with your camera. If you then use a modern DSLR, you can even use autoficus for your shots: Set AF to continuous and enable face detection if your camera has that feature. Youl'll be astonished about your hit rate.
Now, combine this mode of shooting with a spirit level in your camera's hot shoe, and with a little practice, you'll get reasonably level shots that won't have that 'hip shot' look any more.
All the following shots are 'hip shots' taken with a DSLR with active camera autofocus (working apertures were f2.,8 and f4.0):