I don't think anyone is as down on him as they should be. There are two problems I have with him. One, I think he's in serious decline. I think his bat has slowed to the point that he can no longer hit 40+ homers with a decent average.
The consensus seems to be that it really doesn't matter that much because he'll still hit .270-100-45-120-0, which I doubt, but even if true it leads to my second problem with him, he's consistently going in the second round and that is way too high for this type of production. For a second round pick in a mixed league you should need to get production at a clip of somewhere between $31-35. If Sosa achieves those numbers that people seem to think he will, it's still only worth $24. You are pretty much throwing away $7-11 in production.
A $24 player should go no earlier than the 6th round. If you include the risk that he's slipped beyond that he's worth even less, which is why he should be taken off of everyone's draft list because he'll be gone long before then.
It's the same old story, people over valuing the power stats. He's just not worth it anymore.