Among my friends who work at Google and are avid consumers of RSS feeds, all hate Google Reader. In fact, I heard murmurs about how incompetent the Reader team is/was and how it's not up to snuff compared to other products.
I use it, but I hate it. I'm just too lazy to find something better and port my feeds over.
My big problem with Google Reader is that I still can't use my Google Apps account with it on my Android device. WTF? This is a Google product on a Google phone accessing a Google service using a Google-based account and Google still can't make it happen?