Modern Dwarf Fortress is the Emperor's New Clothes in game form. People like what they imagine it might be and everyone else just goes along with the delusion. It hasn't actually been a good game since it was 2d.
Eh, I don't know if I'd go that far. It's playable as a game, and can be enjoyable as such. I'm not much for wildly imagining stories to go with my little ascii dwarves, honestly I don't give a shit about the rainbow colored bio except I wish I could read the shit that actually matters a little easier.
I like when funny shit just happens due to the interactions of the systems. Like the bug with the cats constantly dying of alcohol poisoning due to cleaning spilled beer off their paws in the tavern. That's fucking hilarious to me, because nobody had that intention.
The game, such as it is, is pretty similar to something like rimworld. I mean, you've got way more dudes, but you're still managing orders for dudes to do, occasionally being raided, trying to feed all your dudes, sell shit, etc. And with the army updates the world is expanding, you can take over other sites and stuff.
It's just for the basic core of a game that's in there, you've got a bazillion rough edges and a wacky dense UI to navigate. There's nothing attempting to pretend to be balance, a lot of things are a fucking chore to do, and typically the only challenge is what you make for yourself. Once you've figured it out, it's like a lot of those other games, it gets repetitive.
Now, some people seem to really love all the weird little details about each of their dwarves, and making up stories, or just doing whatever weird fucked up shit popped into their heads, and that can be fun to read, although I'm certainly not going to do it.
I mean, DF is free, and the dude lives off donations freely given to him. I can't hold it against him for doing whatever the fuck he wants. I can wish he would do some things differently, but I'd say DF is better now than when I started playing with version .34(I think, it was a long time ago). That said, I typically play about 12 hours of dwarf fortress per new version now, so eh... maybe my opinion isn't worth much.