Based on how it is implemented in the game, then yes. In games like Dead Rising, for instance, where weapons are strewn all over the place and weapon degradation encourages you to try throwing stack of plates or a giant umbrella to get past the zombie hordes, it works great. It plays to and highlights the strengths of the game. In games like Condemned 2 and Yakuza, weapons degradation is bearable because their fist fighting systems are more thoroughly focused on (and in the formers case, because firearms were strewn around everywhere like candy). In games like Fallout, STALKER, and System Shock, weapon degradation is a key aspect of the game because it encourages scavenging for basic survival gear. It gives you a reason to carry extra copies of weapons (i.e. spare parts), and gives weight to the Repair ability and those that choose to keep it as a main skill. In Beat 'em up games, weapon degradation is for balancing reasons. In games like Dark Souls and Way of the Samurai, weapon degradation is a great way to encourage the player to NOT kill every NPC in the vicinity, and consider the repercussions of their actions.
In the TES series, though, I didn't mind the Repair system. To me, it added another facet to RPing, was an important survival skill to consider (i.e. take a hammer to repair it yourself or some gold to get someone else to do it), and was a good way to train Endurance without running in circles for a few hours or standing in the middle of a field and letting goblins take potshots at you. Of course, Skyrim changed its system and carefully implemented it so that these items were satisfied in other ways, so they may be moot. Could the weapon/armor degradation system have been better implemented? Yes. However, I think getting rid of it entirely is a bit much, though the ability to upgrade gear is a nice alternative. Still, I think I'm one of the few who the new system in place as another case of streamlining the game unnecessarily. I miss being able to equip the different sections of my armor and mix and match them as I please. I also miss being able to wear clothes underneath my armor, or a cloak over it. I miss crossbows and spears. I miss restricted free travel that encouraged you to explore the land, intermixed with ferries, teleportation mages, and teleportation spells that still allowed you get around quickly if you needed to. I miss the absence of the now ever-present pointing arrow that flat up tells you where to go at the cost of exploration and careful directions given in flavor text, maps, and books scattered around the map.