Honestly, I agree with both of you.
I personally wish that it had less D&D-in-modern-day focus, but I also know that the only way I convinced my group to start it was by showing how they didn't need to learn a new rules system, because it was exactly the same as D&D, for the most part.
There are parts that I like -- I love being able to use Monster Manual monsters right out of the book (with new names: hello "victim of mutagenic steroid", good-bye "ogre"), and I like having a ready spell system that I can use for a rule of thumb for how my campaign FX (which I'm self-making) can work. For example, I can make Hold Person, with flavor-text changes, into a neural disruption ray that can be fought by focusing your concentration to break through the disrupting effect.
I didn't need that stuff in the book, but I can see how their marketers would have thought it important -- since it so obviously WAS important to a large part of my group, even though we're not even PLAYING D&D-in-modern-times.
They really tried hard to sell d20 Modern on two levels, from what I can see:
1) It's a core system that can make any kind of campaign you want
2) It's the core book for these three campaign worlds, each with different FX
I could care less about the latter, but it was definitely important to some people. Not everybody does homebrew, so (1) wasn't going to sell the thing all by itself.