There's a fair amount of criticism which I think is just. Personally, I think this may echo a lot of other people's feelings, is that it's great for tickets and entering the park and you don't have to worry about it fading away, ripping, etc.
Criticism about reserving ahead of time is just a matter of preference. Some people are planners, some like to wing it, and those with kids can be a little tricky as not every kid is a cookie cutter of each other. Talking with Andy about it, he said it's hard to reserve a FP for Small World and his daughter wants to do a M&G instead and he can't really explain to her "Well we didn't reserve it, we can't wait now, we gotta wait later." So I think Disney forcing that preference is fair criticism.
I also think it's a silly expenditure to keep mailing out the damn Wristbands whenever an AP books a vacation onsite. There was no opt out.