I think the reason the Internet hates it in general is mostly because of its use in inappropriate places (I even saw a picture of a funeral announcement that used it).
In a world where good/bad are exactly defined points on a single axis where the unit is readability (and where the relationship between kerning/letterfit and readability was similarly precisely defined) that might have been an objective argument.
I think the reason the Internet hates it in general is mostly because of its use in inappropriate places (I even saw a picture of a funeral announcement that used it).