In the previous games the player had to go through a crapton of busy work to advance the story attatched to the guild. In fact, in Morrowind it could be all busy work and no story at all (at least in the mage's guild). Even in Oblivion, where all the guilds had really strong stories, there were still filler quests you had to deal with. In the Mages Guild it was the recomendations, in the Thieves Guild it was fencing goods, et cetera. The difference was that you had to do that filler stuff to advance in rank and advance the story. In Skyrim, at least with the Mages College and the Companions, you have to do little if any of the busy work, you can push right through the main part and skip over the rest. I have no idea what other player's experiences are exactly, but I wonder if the dissatisfaction with certain guild quests is due to the lack of barriers forcing the player to slow down during the guild quests.
Personally, I think this feature is fantastic. It let's you get an uninterrupted story, and the extra stuff is still there, if you take the time to look for it and do it. To be honest, I get the feeling that a lot of the complaints about this game (apart from glitches and performance issues) stem from players that fly through the game uninhibited and wonder why it wasn't satisfying when they never stopped to smell the roses (figuratively speaking of course. See, that's the mark of a good game, when I actually have to make that distinction). But maybe that's just my opinion. I should also mention that I have not yet completed the Brotherhood or Thieves Guild quests, so maybe there's something I'm missing, guess I'll just have to see.