Can alcohol ever be ok in skin care products?

I seem to become more middle of the road in my approach to ingredients the more I learn about them. I still don't want anyone trying to trick me by putting a bunch of shit in a product that isn't going to do me any good, but I'm not so paranoid that I think a little bit of fragrance is going to turn me into an old hag, necessarily, anymore.

Alcohol is one of those ingredients, like fragrance or preservatives, that gets demonized in skin care (though the people worried about fragrance and the people worried about preservatives tend to belong to separate camps). A lot of skin care products contain alcohol. But does it actually serve a useful purpose, or is it just in there to improve the product's texture while ultimately producing damaging results?

Here are some different perspectives from sources that I think are generally smart and reliable (i.e. not the EWG):

Alcohol is always bad (except fatty alcohols).

Alcohol is fine.

Alcohol can serve a purpose in small quantities.

At this point, I am not bothered by a little alcohol somewhere near the second half of the ingredients list. However, if you're trying to sell me a fucking $95 serum that has SD alcohol as the second ingredient (after water and followed by boring ingredients like glycerin and silicone), I'm going to have to pass, thanks anyway.

What's your take on alcohol on your face, not just in your glass?