Personally, I love it for what it is. People complain that it gets boring after a while, but honestly it isn't the kind of thing you should be playing for hours at a time anyways. It's a blast to just go on and mingle now and again.
I'm going to post an article about it here soon though, so that will give a better impression.
To anyone reading this, I strongly urge you to get a Hong Kong PS3 account and get the

beta. You can unlock cool things for Home. I got some clothing like a

shirt, Dig Dug hat, and some arcade machines in my apartment. Really, really neat.