Pit Bulls were originally bred for pit fighting, hence the name. Bullbaiting was popular in England in the late 18th and early 19th centuries and the breed they used were the original Bulldogs, not to be confused with the clowns that we refer to as Bulldogs in present times. These Bulldogs were a large Mastiff-type breed. These dogs were first used to hunt and retrieve cattle, but were later used for bullbaiting which was nothing more than a gang of dogs fighting a bull or bulls. After this practice was outlawed pit fighting became popular. This is when the terrier(ratting was another popular practice) bloodline was first crossed with the Bulldogs in order to make the dogs more aggressive and streamlined. The Pit Bull Terrier breed was now born for the sole purpose of pit fighting. When they arrived in America in the mid- 19th century, they were also commonly used as catch dogs for cattle and hogs and protection, as well as pit fighting. They started to breed them a little larger from this point untill the present.
There's no doubt that these dogs were purposely bred to be aggressive. That's why people who own them should take extra care to train them correctly. The same goes with any breed of dog, but I think you have to be more carefull when dealing with larger and/or aggressive breeds.
Rotts and Pits are both awesome dogs. The doggy shrink should be extinct.