When it's done wrong you spend hours grinding gold so you can buy a better item direct from the Auction House (so you can better grind gold so you can buy a better item direct from the Auction House). When it's done right it's a min-maxer's dream game, all mental calculations on damage per second vs survivability. In short the Auction House laid bare the dark secret at the heart of the franchise - Diablo is only really fun when you're getting shiny new things.
I was more critical than most of Diablo III when it launched on PC in 2012.