Are you saying it always sucked? I worked with it for a year and sure didn't think that. Its principal architect was the guy who played the same role with VS and (to my surprise) Turbo Pascal. I believe you're referring to Anders Hejlsberg, who was with Borland until the mid-late 90's.
There just simply are periods of time where creativity meets common sense and you have some absolutely historic achievements. Turbo Pascal and the early versions of Turbo C/Borland C/C++ certainly come to mind. The Borland products at the time almost felt as if you were using a development tool that had been customized for you. FoxPro 1 in 1989 also comes to mind.
This isn't a cry for the tools of yester-year, but each new tool brings a mixed bag.....a bag of goodies but also a bag of half-baked functionality and glaring potholes. Having said that, the early releases of Denali (next release of SQL Server) have me cautiously optimistic that we're going to see a very important release.