People who do not read the by-laws (which become enforceable covenants running with the title to your land) are fools.
I would not buy a house in a subdivision governed by an HOA without first checking with a few neighbors, too. They will have invaluable insight as to how their HOA operates.
They tend to keep the property value of your neighborhood high, as it is nearly impossible for neighborhood deterioration to occur under their supervision. They also can be a real pain in the butt, especially with little things that you think should be none of their business (like how many indoor pets you can have.)
READ THE FINE PRINT.
Really? My strategy would be to buy the adjacent lots, if I wanted to prevent this. If I couldn't afford to do so, I guess it wouldn't be ANY OF MY BUSINESS what was built there.