I really don't mind them one bit, though I'm a PC Gamer so used to it.
I think what they should do is offer it as an option, so people who don't want to can just deal with longer load times etc.
I would mind it in say 1 year when there is a lot more games that require installs and you're forever deleting 1 install to install/reinstall another.
I'm surprised they don't give you a choice if you want to install it or not, surely the loading times without can't be that bad?