There's just way too much of it. It's more overwhelming than it is fun. And the kinds you actually want (like uniques, relics, etc.) are common enough that the rest is just useless clutter you don't want to waste time looking at. And that's about 95% of everything that drops. I don't even glance at anything below purple, and only very rarely glance at purple.
It's just silly. It's past time for a loot overhaul.
What I want to specify here is that it's not a binary. It's not a choice between too much loot or not enough loot. It has to do with the relative proportions of different types of drops and how badly tuned they are. There are many examples of this, but let's take one - compare runes and relics to slot 1-5 gear all the way up to uniques. In order to get good drop rates on more desirable items, I have to try to sort through a completely preposterous amount of standard equipment to the point that gearing is completely trite and not fun.