To use an analogy: we have small cars and someone is trying to sell us a big car. We're saying: 'What's the point?' because our desire and needs are already met by something else we have in mind. We see the product as missing a feature or not adding anything extra to the table. Think of it like wanting a mail provider that offers POP but not IMAP. I want one that uses IMAP - am I wrong?
I do not see this as negativity: it's just healthy disagreement. Otherwise every comment here would look the same.
It is unfortunate that the product we're talking about is offered as an alternative to the real thing (Facebook Connect) and it is what a developer would consider using to avoid writing their own login system. The offering does not meet our needs.