Not so...I had one - really liked it.
Very good basses, well balanced, good tonal range, nice neck and great build quality (always an issue for me with Fender).
They can be picked up for relatively silly money - after all they're not a J or a P so your hardcore Fender-rite can't be seen playing one in public.
Don't be put off by negative comments by others who think that Fender should have stopped designing new basses after introducing the J bass.