The thing about Team Deathmatch for Battlefield 3 is that it was most likely put there to appease the legions of twitching Call of Duty players who can't go five seconds without hearing an explosion and have the patience and attention span of a common household toaster. TDM is basically Battlefield's answer to CoD's gameplay and if you're into that sort of thing it does its job very well.
Sure the spawn locations suck, and the using anything other than a submachine gun, rifle or shotgun puts you at a major disadvantage, but these are complaints that show up all the time for CoD games, so what's the problem?
You've still got a variety of other gametypes to choose from; Conquest for good old-fashioned Battlefield-ing with nothing missing, Rush for the tense objective-based excitement, Squad Rush for an extremely tight version of Rush where you really have to work with your squad and can't rely on a whole team to back you up, and Squad Deathmatch which is an interesting sort of hybrid between team-based TDM and free-for-all (4 teams of 4 each fighting it out, if anyone's unsure).
But yes. If you like CoD's gameplay then you'll probably be happiest playing Battlefield 3's Team Deathmatch. If you don't, give it a try anyway. It's still a fun little distraction from the other much better game modes, so long as you don't justifiably rage at it.
TL,DR: Team Deathmatch is Battlefield's answer to Call of Duty. If you like that sort of thing, play it. If you don't, play one of the other gametypes.
Cheers.