It depends what you're after. Yes it doesn't expose advanced radio settings but I'd argue that the vast majority of home users (which is what they are targeted at) don't know what those settings do and would do more harm than good messing around with them.
My number one requirement when purchasing a Homehub 3 replacement was that it would work reliably, as I don't want to be troubleshooting networks at home, I do enough of that at work. On my relatively modest budget of about £120 the AirPort Extreme ticked all the boxes, and as I said earlier, I plugged it in last October and every time I've sat down on the sofa with my iPad, or wanted to use Xbox Live, or play music off a Squeezebox ever since I've had a reliable and fast connection. For me that's worth more than being able to tweak the last half a megabit out of a connection.