I may agree, but when its use was mandatory and every check in/check out took ages (and could fail in the middle) was no fun. Also, those in charge then was terrified by "concurrent" changes, so forced the pessimistic locked model - you could not work on anything someone was also working on until he or she checked it in... and of course it would have been your fault if you didn't meet deadlines!
But in some other ways it was an interesting testing rig for some bad coded DB applications that used large amount of bandwidths because of poor coding and classic "select * from <table>" even if they needed a single field of a single row...
Biting the hand that feeds IT
