Personally I hate just every aspect of it, but I understand why people tend to give it the thumbs up anyway.
From my point of view, it has become just another soulless shooter, and whose update was basically unnecessary. Why? Simple, because they don't essentially add anything new or improve anything major, at least not in any significant way. In fact they have removed content and distinctive features (e.g. game modes and achievements, among others).
They could have improved security at any time and (which they sold that the update was necessary in addition to other reasons I feel absurd) and they never did, preferring instead to just give waves of VAC bans, but at no point did they really improve the anticheat or the community itself, until the end it still felt absolutely unbalanced.
Part of the reason for CSGO popularity was that it was relatively "well optimised", and that almost any PC could run it without major problems. People took the graphics engine change lightly and thought that the performance issues would be beta-only, so hardly anyone complained at the time. Today, it is unplayable for a large number of people, and I'm sure if it wasn't free right now, they would have killed the game.
I was never really into CSGO tbh, even when I first tried it in 2012 and it didn't feel that far away from a classic CS game. but now, this (for me) just doesn't feel like a Counter Strike game anymore, and I ended up going back to Source again.
While CSGO is still going to be perfectly functional with unofficial servers, I think Valve shouldn't have removed it, instead making CS2 a sort of optional update like the beta was, but oh well.
For years now I have generally felt that the company has been making the worst possible decisions, so I am not too disappointed at this point. Making money from boxes and skins at the end of the day is the only goal in their minds. For those who are in favour of the update and find no reason to view it negatively, I hope you will enjoy the game as long as you can and as much as it will last without major inconveniences. :)