That is called a contentious statement :)
But there is some truth to it. I played Rift for two more evenings and have a level 11 dwarfen priest at this point. I did a few smaller rifts, died in a big one and otherwise slaugthered a few hundred moving things.
The crafting seems as little fun as in WoW, so I learnt three gatherer professions. The texts .. sorry I don't read them. There are too many, too long names and if I wanted to read all texts and understand the lore I'd be level 3 or 4 at this point. Also, a game shouldn't be an exercise in reading.
Problem is: Once you stopped reading it's even harder to start reading again. There is no way to go back and read the quest texts again, after all. A bit of core-story telling shouldn't be too hard. Look at Bioware. Not 100% of a story has to be presented by walls of text!
Judging Rift for what it is, it is a really good game. Comparing it to WoW, I like the fact that itemlevels are not visible. I like the fact that I am free to quest and explore and kill rifts as I like. No silly Cataclysm stories told by streamlined quests. The open grouping is a success in my opinion.
Most importantly, it feels new, unexplored, less serious. Rift is a game for casuals and I enjoy playing it casually at this point. It was worth my money.
But it's not my dream MMORPG. It doesn't have trade, doesn't have meaningful PvP, has silly crafting, badly implemented lore, etc. But that's all WoW-like. Judging Rift for what it is: It is WoW, just better; while leveling.
Now, the long term success will be determined by the endgame. Especially so, since there are so few starting 'zones' that twinking is less fun compared to WoW.
I'm sure Rift will make a profit and I am sure it will have influence on the industry. On the one hand side it might encourage Blizzard to spend more of their $900 mio annual operating profit ($1200 mio annual revenue!) on their MMORPG(s). Competition is good for business, as they say.
On the other hand, however, it has proven that you can really make a profit with WoW clones. God help us all.