It's not for me, but then nor was Power Play or even driving around large, empty rocks in a dune buggy. Engineers is just FD catering to MMORPG type players who like hunting rares, getting exasperated at drop rates and crafting their Uber Something of Awesomeness so they can pew-pew harder or go faster or... whatever. Which is kind of who I was in WoW for a couple of years, so who am I to criticise?
But in WoW there was a place to store assorted materials so you didn't have to carry them around, and that was in a game where being killed didn't mean losing anything. In ED, you have to carry the lot and can lose the lot, too. Also, WoW offered an auction house where a lot of more powerful items could be sold after a player had found them or made them. Not all (some couldn't be transferred) but enough that there was a genuine player driven economy in WoW, with supply and demand, price fluctuations and the like.
And none of that is in ED.
In ED, crafting isn't crafting because you, the player, don't craft anything. You just find materials, give it to an NPC and have them make something that hopefully meets or exceeds your hopes. And while you're driving around trying to find whatever is on the list of mats, you have to carry everything with you and you can't sell anything you find that you might not want, even if there is a huge demand in-game due to rarity, because whilst the 'blaze your own trail' career of Engineer's Dogsbody is there, the occupation of Specialist Rares Trader is not.
It's just a time-sink, a paper-thin update that's was so well thought out, FD basically had to entirely rethink it soon after release and then gimp all the NPCs who suddenly pew-pewed a lot harder and went a lot faster. And, as many people point out whenever someone goes off about a part of the game they don't like, you don't have to play it. Power Play was the same; it didn't affect the core game and thus could be seen as entirely irrelevant.
Personally I'm hoping FD introduce something that's absolutely integral to the ED experience, that can be experienced by committed players with hours to spare as well as occasional gamers who get on just a few hours a week alike, and is woven into the fabric of the game and not just a self-contained little add-on that might as well have the tag-line 'take it or leave it'.