I'd say read it, and form your own opinion. People mention thw WoT in internet discussions about both good and bad fantasy series, so that's why I think people should try it and form their own opinions.
I personally like it. Jordan does a pretty good job of biuling both a world and characters. He describes several major cities and nations, as well as many small villages and towns, and they all seem fairly unique. The main characters too are generally well developed with distinct personalities and motivations; the minor character can come off as cardboard, but that's not really much of a quibble since they're supporting characters anyway.
However, the later books are weaker than the earlier ones. The first 6 come off pretty strong, Jordan clearly had the plots for them envisioned before he wrote them, and he knew what he wanted to do with each of them. That's not true with the later books. There are parts of them that feel very sketchy, somewhat rushed, and aren't as fully developed. I think that Jordan does know over the long run how these plots end, but it's the details he hasn't figured out. And think he's a bit burned out as well; I think he made the series far too long, and it's hurt the creative process.