Actually, yes. I absolutely see why it has broad appeal for a certain subset of young people (largely because it shocks many socially ingrained assumptions) but unfortunately it straddles two worlds and does neither very well. As a philosophical work it's incredibly superficial. It's like reading a top 40 pop hit - catchy, but there's not much depth there. There is good reason that Rand is more of a curiosity than "required reading" and is not looked at in the actual academic community as a legitimate thinker as well as being a household name, in the way many consider Milton Friedman to be (not altogether sold on him either).
By the same token, her actual writing is just plain awful. The prose is particularly soulless but it goes beyond that. If you assess it from a pure writing perspective, ignoring any political or philosophical aspect and just taking it on the story, characters and how it's all presented to the reader, she's a pretty terrible writer. It's the same reason I can't get through 10 pages of Dan Brown - though, in fairness, he is much worse.
Tangentially, it's also annoying because left wing college kids will sometimes read it as if it somehow gives them a unique insight into the thought process of conservatives and thereby arms them to do intellectual battle, which is just... irritating.