As a core mode, I'd agree, though I loved Reach's greater customization and matchmaking funtionality. I wish we'd gotten a marrying of ODST and Reach's Firefight, and progressed it forward, such as by integrating personal ordnance and such.
I think Spartan Ops is flat out terrible. I feel bad typing that (sorry, David!) but I just didn't enjoy the mode at all. The primary justification for losing all the customization from Firefight was the narrative, and it was a weak story with mind-numbing characters (Palmer, dudebro Spartan IV's). Meanwhile the core game was just as wave-based as Firefight, but without any of the structure to support it. It's probably my biggest disappointment with the game, and one of the main reasons I decided to get rid of it, once I concluded I wouldn't play Campaign again and gave up on War Games. With Reach I had at least one mode to cling to.