I would agree. Given that I've been there when it's mid-summer in the mid-forties (C!) and very humid, I have a hard time picturing how it's going to be a major tourist desitnation. Combine that with the fact that it rivals Vegas for perhaps the most artificial, manufactured destination on Earth, and I fail to see the appeal.
Having said that, there are other regions in the UAE (Fujeirah, Abu Dhabi) which are quite appealing, but I don't get the appeal with Dubai either.
Not to get overly philosophical, but what is a country's identity if there are no (only about 10% of population) native population?