I played it when it was released and mostly enjoyed it, though I can't remember what difficulty setting I picked. I bought it mostly because I like Mark Ferrari's art, but ended up completing it. Some characters and jokes were intensely annoying, especially Ransome. I did like Delores, though.
Afterwards, I revisited some LucasArts games I'd played before (Monkey Island 1 and 2), and tried my hand with some I hadn't (Fate of Atlantis, Sam'n'Max, Full Throttle and also Flight of the Amazon Queen, which isn't from LucasArts). I think what you describe is actually fairly representative of the overall LucasArts experience. Character building is limited, even the funny jokes get tiresome after you've clicked through them a fifth time, some puzzles are illogical even for games with a sillier tone (monkey wrench, anyone?), and there's often a lot of walking about, repeating conversations, and clicking randomly just to see what happens. Some of them (Thimbleweed Park, MI2) also have exceptionally poor endings.
Out of the games I played, Indiana Jones and the Fate of Atlantis was the best, though I got stuck (by forgetting some object in a room outside a complex labyrinth) close to the end and didn't bother completing it. The main character is pre-established, the plot feels like an Indy movie, and I can't recall any genuinely preposterous puzzle solutions (though it was a few years ago now).
I love the Monkey Island games, they're a part of my childhood. But I mostly love them for the music and graphics, not necessarily for the puzzles or the many gags that other people always seem to find a lot funnier than I do.