Metacritic (or Rottentomatoes for example) is a fine tool,
that I don't wanna miss.
It helps me to look for reviews of a game.
And it helps me to look for games in general.
There's nothing wrong with Metacritic as an aggregate. It's a useful place to find reviewers bunched together. The problem lies with the importance the industry has placed on it.
Publishers write contracts with Metacritic clauses that can potentially fuck developers over (not to say that devs are innocent either), marketing makes choices designed to boost metacritic scores, journalists are even more questionable (fear of blacklisting) than ever now that their arbitrary rating scales have more weight than they have ever had. It's all so intertwined in various parts of the industry that it just seems so fucked from the outside.
It goes both ways. Its really weird to think that there are devs or big business dudes out there thinking "This game is awesome because we scored over a 90 on MC," and then the game receives huge backlash weeks later (Infinite, GTA 4) and vice versa.
Scores are important and I don't think they should go away. The emphasis on high Metacritic scores as the ultimate "goal" for some in the industry is fucking toxic though.