It's not really flame-worthy because you're mostly right. I do however, think Black-Scholes is an appropriate starting point for options theory, even if it's not used a ton in practice. Without some sort of framework, you're effectively lost. I doubt many people could realistically develop any sort of options based strategy (besides simple leveraged long / short of the underlying) without a deep inside-and-out understanding of the BSE. The reason being not that you need to use it to calculate anything, but because it lays out a straightforward conceptual model of how various greeks interact with each other.

Of course, understanding the shortfalls of it are equally important. But the same could be said of DCF, P/E or any other valuation method.