> the serifs in Computer Modern are thicker than the thin stems of letterforms.
1. Is this really true? I went to the bookshelf and pulled out three Knuth books, and at least to my eye, the serifs don't look noticeably thicker than the letter stems in the unbalanced way you mentioned. The exact proportions could be found by checking Volume E or generating proofs from the Metafont sources (haven't tried that), but this seems like the well-known problem with the "spindly" Type-1 versions of CM that many people use today, than in Knuth's actual Computer Modern as in his printed books. (See https://tex.stackexchange.com/a/361722/48 for pictures.)
2. Is this any worse in Computer Modern than in Monotype Modern, the typeface that Knuth was trying to reproduce? This is the font used for TAOCP Vol 1 first edition (1968), Vol 2 first edition (1969), Vol 3 first edition (1973) and Vol 1 second edition (1973). Those books were typeset with hot-metal typesetting (on Monotype machines), and in fact when Addison-Wesley approached Knuth in 1962 (when he was in grad school) to write a book, he was excited because he loved the appearance of their books. The publishers' move to phototypesetting could not recapture that look, and digital typesetting was starting to become feasible, so he took up the problem himself: he wanted to reproduce Monotype Modern so he needed TeX to typeset it, and Metafont to specify it (and Computer Modern was the result).
My guess is that the opinion you're expressing results from a combination of both the above:
• Yes, what Knuth was aiming for (Monotype Modern 8A, or the look of math textbooks he used as a student, or mathematical journals of a certain period: https://projecteuclid.org:443/euclid.bams/1183544082 ) was very much an early 20th-century / late 19th-century look, and it seems the fashion in contemporary typography circles (I suspect this started with William Morris in the 19th century already) to look down on that period and all that it entails (like larger spaces between sentences: witness Bringhurst's comments about "In the nineteenth century, which was a dark and inflationary age in typography and type design" etc). So, people au fait with modern typographical fashions don't quite like the associated style (Scotch Roman typefaces, etc), while many mathematicians quite prefer it.
• The poor Type 1 versions of Computer Modern cause the letter stems to appear thin, and even more so on low-resolution devices like monitors, causing the serifs to appear thicker in comparison.
Personally, comparing Monotype Modern (as in the first editions of TAOCP) and Computer Modern (in print, and using "true" CM), I don't think Computer Modern looks worse than the source typeface in terms of having terrible balance or appearing like "a font designed by an engineer"; the issue is probably more the "shared taste" you mentioned: Knuth's target aesthetic was itself different.