I disagree, certainly at first level because it means that humans can take Expertise and still pick another feat. No other race can, so other races are essentially choosing between +1 to hit or a cool useful feat...
Doesn't change the fact that the human bonus feat is worth only the value of the weakest feat the human character has - not the strongest, because all but the weakest are feats you would have taken anyway. At 1st level, you only have a couple of feats, so even your weakest feat is going to be a pretty strong one, and it's a significant benefit. But the higher level you are, the less significant that benefit becomes.