In the last 20 years, mainstream research in VLSI placement has been driven by formal optimization and the ad hoc requirement that downstream tools, particularly routers, work. Progress is currently measured by improving routed wirelength and place-and-route runtime on large benchmarks. However, these results now appear questionable as (i) major placers were shown to be tuned to particular benchmark suites, and (ii) some reported improvements could not be replicated on full-fledged industrial circuits.Instead of blind wirelength minimization, our work seeks a better understanding of what a good placer should produce and what existing placers actually produce. We abstract away details from various circuit patterns into separate "constructive benchmarks" and perform a detailed study of leading placers. Unlike the randomized PEKO benchmarks, ours are highly structured and easy to visualize. We know all of their wirelength-optimal solutions, and in many cases there is only one per benchmark. By comparing actual solutions to optimal ones, we reason about the underlying placer algorithms and their possible improvements.In a new development, we show that the (wirelength) sub-optimality ratio of several existing placers quickly grows with the size of the netlist. Some of the reasons for such poor performance are obvious from our visualizations. While it seems easy to coerce a given placer to improve wirelength on any particular constructive benchmark, improving the overall performance is more difficult. We improve the performance of Capo placer on several constructive benchmarks and a proprietary 72K-cell circuit from IBM, without wirelength penalty on commonly used benchmarks.