Are you sure you were never on TotalFark?
At any rate, even the games widely considered to be the best the Neo has to offer have some severe balance issues. Samurai Shodown II has been so vigorously picked apart that the game itself is a study in how NOT to balance a fighter. Doesn't stop it from being fun, though. People bitch about Daimon and Chris in KOF98 all the time. Much as I love LB2, they skewed the damage in really odd ways (hellooooo, Mukuro)... which is ironic, since LB1 seemed relatively well balanced on the whole.
It's simple numbers. By and large, the vast majority of any given system's library is bound to be crap. The Neo, like it or not, is no exception. It had somewhere in the neighborhood of 200 games for it... and I defy anyone to list 65-75% of them as worth owning by virtue solely of their being good games, as opposed to the collector's impulse or personal whimsy (I know a guy who loves Legend of Success Joe, but he's not about to call it a good game).
For every gem, there's always a bevy of crud surrounding it. That's entertainment, regardless of medium.