This image took about 10 minutes to process and includes only a hand full of alterations including: increased contrast, corrected white balance, corrected colour saturation, removed the stick from the bottom left of the falls and stretched the bushes in the bottom right to cover the ugly gravel. The biggest advantage to shooting RAW is the ability to save highlight and shadow detail. All the information is in the file, you just have to pull out whatever you want.
I usually don't remove anything more than ugly branches and garbage, but I am not afraid to manipulate any photo in any way that I think might improve the image. My only goal as a photographer is to create beautiful art, using photography as my medium.
Unless you are a journalist working for a newspaper, there is nothing wrong with manipulating a photograph in any way you like. It's all about creating art.