I don't think Panini have done a bad job at all!
They cater for all ranges of collectors, they try different things, the try innovative things.
They have been fighting criticism from day one because people were dirty on them straight away for getting the sole rights. IMO, most of the reasons people say they don't like Panini also apply to certain releases from the other companies too!!
Actually when they first came in I was one of the people telling the "haters" to give them a go and see what they come out with before hating on them; but as you now probably know I DO give them a lot of deserved criticism.
This is what I meant by rose tinted glasses it's just my opinion but if I recall Ud had some pretty cheap looking sets too.