No.. no, it's not "sh*t". It's a well made... software.. thing. Sure is.
It's just f***ing pointless. That's the problem. I can sit in a room with a bunch of friends - we're waiting for someone to join, so we can play WipEout. But when they join - we all have to quit home, and have no way of actually opening a lobby with the players present in the room, etc., etc. Not only that, there's no way to use that list of friends manually - you just have to remember the nicks, and hope the rest invite themselves (by reminding you that you have to invite first) if you forget.
So what Home is, is f*****ng pointless. Ok? B*****y f*******ng pointless. That's the problem. Not that it's sh*t. Because it's not. It's just lacking any sort of use beyond standing around looking fabulous.