I like it, and I make a general practice, after I finish a movie/game/book/whatever, of seeing what TVTropes has to say about it. However, what I don't like about it is its tendency to take over the vocabulary of anyone who has ever spent any time on the site. I can no longer discuss a movie/game/book/whatever with any of my friends who read TVTropes without them spouting TVTropes jargon, and that bothers me. The site offers a convenient lexicon for such discussions, but at the same time I feel like it discourages people from forming original opinions, or at least from articulating their opinions in original ways. They just default to using the terminology and categories that the website has so kindly provided for them.
...god, that made me sound like a total hipster. D: