Limp Bizkit's first album was somewhat tolerable, but right now they just sound like Britney Spears with swear words.
It takes more than cussing and singing about how great a band you are to impress me.
That's Kid Rock's problem too. When he doesn't sing about himself he's quite the talented musician.
There's just something silly, egotistical, and ultimately circular about singing about how great you are.
Furthermore, I have the same problem with Bizkit that I do with all modern music: it's either dance music, about getting laid, money, or emotion. There's no substance to what is sung about. Compare this to storytelling songs, my favorite, in which there is something that the lyrics are actually about.
Finally, the greatest problem I have with modern music and "new metal:" no melody. There are next to no lead guitars or solos. Everything sounds like rhythym guitars. I dislike what the Seattle years did to rock and I dislike hip hop even more. Give me melody or give me death.