Well, other than the fact that it doesn't work on Linux or MacOS or iOS or Android.
( Ah, perhaps 'windows like installer' could be misleading. I meant windows only, but like a 'installer' mechanism'. Since it installs, updates, ... Out of the box. Didn't exactly knew how to write it as short as possible)
(Then you could get the same critiques as java web start.)
It's a great experience in Windows though. We have multiple internal applications running on it.
Although it's not a one size fits all solution. But internal apps that can leverage windows are extremely quick to setup with the winforms/click-once combo.
Shared network drive and everyone has an installation + auto update mechanism.
( But i guess that combo isn't popular here )