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I think they're okay, there just seems to be so many of them. I do think the phase will pass though, I think it's a bit like a gold rush with companies having seen the success of games like Halo and COD and desperately tried to grab some of the success. I'm surprised by how long it's gone on for though, I genuinly thought that after HAZE companies would realise that the shooter market is pretty saturated and that creating a mediocre shooter would be doomed to fail. But games like Homefront and soon to be FUSE just kept coming despite bad sales and companies just kept going in some sort of hypnotic trance of self destruction.
There were successes too though, with games like Borderlands that genuinely brought something new to the table and proper top tier games that deserve the sales.
I guess I could summerize by saying that there is nothing wrong with FPS/shooter games but some of the companies that make them really need a reality check.