I've just gone over the public discussions. They could basically be summarized in two points:
jacobian&ronacher dislike web2py's inclusion of a few new "builtins" (that is, they are builtins for a web2py applications). They used extremely colorful terms ("divisive! harmful!"), but that's essentially what it boils down to: It's fine that "len", "dict", and "list" are builtins, but it's horrible that web2py introduces a few more for web2py apps ("request", "response", "session", and a few others). Well, that's not much more than a difference of opinion. They feel very strongly about it, for some reason.
ronacher also dislikes web2py's use of "exec" for some reason. Almost all of his criticism is meritless (web2py precompiles for production, and the namespaces are used as he thinks they should be). The part that isn't, about classes with destructors leaking is valid, but it's a general Python "bug" that web2py potentially amplifies if you use it -- but it is not idiomatic in either Python or Web2py.
It's rather telling that every single strong criticism of web2py you can find on the web comes from someone who has never used it, and more often than not has some vested interest in a competing framework.
Web2py is not perfect, far from it -- but it is extremely well built, very robust, has a lively and helpful community, and gets things done quickly and well. Give it a try when you have the time and feeling curious.