I don't doubt it was for some people, Therin -- I was maybe 10, and it was the movie we selected for my birthday party with schoolmates who would leave the theater mostly bored. The film opened more or less on my birthday, if I remember correctly. But I like Star Trek, so it was a great thrill for me. I bought the soundtrack, comic book, photonovel, fan magazines, and trading cards in addition to various toys, T-shirts, games, trading cards, posters, and so on. That doesn't hide its deficiencies, however.
The film does very little to move beyond having the characters be the excuse for the sci-fi premise of a machine that has become sentient, something episodes had addressed before more than once, with an approach that seemed more intent on invoking 2001 than the series. Even then, we learn almost nothing about V'Ger, nor have much in the way of interaction -- the first half, the better half, is essentially getting the crew back together, and most of the second half is the journey to V'ger -- "up the Himalayan mountain," so to speak, to get to the wise old man. Grand as the scenery is, t's not too thrilling a trip because when we finally get there, he's basically hiding behind a 300-year-old door and letting one of his disciples talk to us.
What makes it interesting for me is the fact that Captain Kirk and crew are back; but if we were to people the movie with different characters and a different ship, I doubt so many people would still be quite so enamored with the film. Its flaws dramatically would be more obvious because without the distraction of wanting to care about characters we know, we would realize they don't really have much to do to earn it.
Having said all that, I don't hate the movie even the slightest. I like it better than some of the films, if for no other reason than it is the only one that seems to have the verisimilitude that sci-fi should have. It looks like a movie. But it's not a well-conceived dramatic work, nor is it a great example of what to actually do with characters who always wanted to be in an epic but not let the epic overshadow them.