That's a fancy way of admitting that the money goes into circulation. That doesn't answer the purpose and focus of QE.
We are essentially monetizing the debt. The government is ensuring the market for Treasuries stays liquid. As the debt is issued, they step in to ensure there isn't a failed auction. Supply and demand... a failed auction will mean a significant drop in bond values and a major shock upward for interest rates. It would cause a bond market panic... and the bond markets dwarf the equity markets by orders of magnitude.
In this environment, no one can truly predict the impact of such a situation so the Fed just keeps doing it. Even when they announce a tapering or end to QE it is always with the caveat that they will buy "only if needed." That's code for "We won't allow a failed Treasury auction. As long as the government is deficit spending, we will continue to be the buyer of last resort for issued debt."
I get all that, and given the situation, where do you see this shaking out in 10-15 years? Eventually our national debt is going to cripple us but what else do you see on the horizon?