The problem with that particular flavor of cerebral storytelling is that it often doesn't make for good movie making. Don't get me wrong, I'm all for high-concept sci-fi, exploration of the unknown, but for every 2001, there's five of "Sphere" or "Mission to Mars." TMP lands somewhere in between. The parts where it "explored the unknown" were alright, but then it went into "V'ger Existential Crisis" mode like it just read Nietzsche for the first time, and it was downhill from there.
Ultimately, I feel that style of storytelling is better suited for television. The characters should be the ultimate focus in a movie, and they weren't in TMP.
(More on topic, no, I don't think WoK is overrated.)