Like anything blanket statements like "good for looks, not for SQ" gloss over tens of thousands of counter examples.
My case: I run an old McIntosh power amp (MC-2300) and I love it. It's perfect for my needs (driving old, power hungry speakers) and I think it sounds wonderful.
About eight years ago I picked up one of those C-22 commemorative preamps (came out in 1995 I think) and didn't really like it and sold it.
So I end up thinking they're a good brand but caveat emptor. You have to do your due diligence and listen.