I think we're all in agreement that the thing f*cking sucks even if we can manage to find a few things to play on it that don't make us want to jackhammer our eyes, and the only reason we've even reached the point where we can find fleeting moments of enjoyment is because the games are dirt cheap, or we can emulate them.
Perhaps you have a different definition of what "sucks" means, but according to my definition, we are not all in agreement that it sucks. Price has something to do with it not sucking, but it's not everything.
I already mentioned the lack of loading times and its library of well designed, playable games. I also implied that for arcade racing fans, it's a great pickup, because there are a lot of quality racers in the system.
What I did not enumerate, was that I also like the controller. I was fortunate to buy a couple of those funtastic ones brand new, when the N64 was being phased out, and never really started using them until recently, so they are practically brand new, and they feel great. I love the tight, springy analog stick. It's like the evolution of the Vectrex stick. I like its uniqueness, and when utilized well, really adds a different experience. For example, I first played Bangaioh on the Dreamcast and thought it was a good game, but playing it in the N64 feels like an entirely different thing. It's great. Same can be said for Waverace 64, which is just sublime with that analog stick.
I like that it has 4 controller ports without a need for a tap and I like that it has fun accessible games that can be played very easily by a lot of casual fans, so its great for more than 2 player multiplayer games with the right crowd. Makes multiplayer Bomberman sessions a breeze (although those games dont hold a candle to the Saturn version).
Finally, I actually have grown to like the look of N64 games. I don't like the fog and its blurriness, but some games have aged pretty damn well for 3D from that generation. Mario 64, FZero, Doom, Ogre Battle, Paper Mario(!) and the 2D stuff comes to mind right away, and other than 2D stuff (and Radiant Silvergun), looks subjectively better than most of what the PSX and Saturn were churning out during the same period.
If I had to choose 5 systems to keep in my collection, it would not make the cut, but I still love having it around, and has provided great gaming experiences, of which I'm sure there might be more to be had if/when I dig deeper into its library.
I don't agree with a lot of these kids proclaiming OOT as the best game of all time, as I don't even like that game. But it must have done something to a lot of people to make them feel that way, and Nintendo generally makes great games, so I'm sure it could be great to me as well, if I had played it at a different point in time.
Going full circle to my original statement, these guys and gals described in the previous paragraph are the ones that overrate the N64, almost without fail. Hey, I get it, as I (used to) overrate the SMS because Phantasy Star was a defining moment in my game playing life. The N64 had Mario and Zelda making a big mark on a lot of people growing up.
The rest can't seem to look past the system's technical shortcomings, its quirky controller, the memory of it sucking when they played it during its heyday (or now), etc., and realize that it has a lot of good games. It's not like NES games look good, or have the best controller ever, and they are still fun to play, and most people here can look past its deficiencies. The same applies to the N64, just with a much more limited library and different type of games.