I read about half of SICP and thought it was OK. Not great, but okay. The programmers I've met fall largely into two groups, those who like systems level programming, knowing how the OS works, how it interfaces with the hardware, what the memory layout is like, etc. and those who like abstraction and the things that SICP values. I'm definitely in the former group (but I certainly appreciate people who prefer the SICP approach).
There's room for both of course, but for people like me SICP was really a slog. Some of the exercises were hard sure, but more than that the material just wasn't that appealing to me. I don't have any comment on whether MIT's decision was the correct one, but liking SICP or working through SICP is by no means a prerequisite of being a good programmer.