As a cognitive scientist with only 1 graduate level fMRI course and no hands-on experience outside of playing around with Neurodebian, I will not be so bold (haha) as to make a claim that there is absolutely nothing to fMRI.

However, I am very skeptical.

I would not be willing to make any strong claims about causality when the alleged neural event and the measurement thereof are 15-30 seconds apart, and the thing being measured (blood flow) is not the event itself (neural activity), and there are so, so many potential sources of error.

Now, structural MRI is super cool.

I have a bunch of friends at my university who work in fMRI brain imaging. I feel bad, but when we talk about their work, I can't help but think they are chasing alchemy. Or maybe a better analogy is that it is almost like they are trying to learn about the world (brain, cognition) based on the shadows at the back of Plato's cave (fMRI BOLD signals).

I sincerely hope they overcome the challenges, but I expect they will be facing the exact or nearly the same challenges 20 years from now.