I have two sides of me on this issue. The first is that I get really angry with our players when they do something to earn a taunting penalty because it's a rule, and I want them to follow it.
However, I'm also a proponent of making rules ONLY apply to situations when safety or gaining an unfair advantage are at stake. Almost all penalties are one or the other. Even the new horse collar rules, like the facemask rule, is primarily a safety related rule, and I'm fine with that. Holding, offsides, clipping, illegal formation, intentional grounding, all of those are either rules preventing a team from gaining an unfair advantage or keeping players safe. I even get the sideline warning penalties, because that's a safety issue ultimately.
The only penalty I can think of that punishes players for something that has zero effect on the actual play are the celebration and taunting rules. A guy doing a jig in the endzone had zero impact on the play or the actual game. I don't like too much individuality in a football game, but that's a personal taste issue for me, and I don't think it's something worthy of punishing. Just my opinion.