It really depends on who you ask. I think Metallica fatigue is very real and the dearth of quality music they've released since Load has really hurt their standing amongst those who aren't hardcore fans and bombard you with their greatness.
That said, as a kid, I loved Metallica. Kill 'Em All, Ride the Lightning, Master of Puppets, And Justice for All and the Black Album are all records that vacillate from good to all time, pantheon rock records. At their apex, they're one of the best bands of their era who are an incredibly seminal band to that time frame. At their worst, they're an overrated albatross of a band with too much hubris and history to know when to quit, made worse by their overbearing fans and some truthfully cringe moments - Napster (which at the time I don't fault them for); their documentary; Lulu; paintings; money grabs, the Newstead bullshit - that kind of put a damper on my perception of them despite knowing their early quality.
So, to answer your question, I don't really know. It depends on who you ask. I think James is horribly overrated as a lyricist. It's almost as if he's playing shameful parody of his former self with these songs. The melodies are gone. Still, in the 80s, as a whole, they could do no wrong.
I guess with all that money, it doesn't really matter.
