I haven't read an FHM in a while but I think it's good. At least it was, I don't know what it's like now.
Yes it had pictures of ladies not wearing much, but there were also genuinely interesting articles. I think people just look at the front cover and assume it's just full of pictures of women with no real content.
I never really liked Zoo or Nuts. They are mostly just pictures of Lucy Pinder (who imo, isn't really that great looking).