The problem I have isn't with having early access (I thoroughly enjoy public testing of games), the problem is when a developer puts up a game filled with bugs that took a weekend's worth of effort or less on Early Access (See: Earth: Year 2066), charges far more money than the effort that was put into it justifies, and claim that they'll continue to work on it so that it can remain on Early Access, only to never actually fix their broken game.
That's the most problematic case in my eyes because the developer is actively lying and actively playing video game players for fools. Less problematic but still extremely problematic is when such extremely buggy games go through Greenlight with no legitimate QA testing (See: Guise of the Wolf) or are just allowed to go on the store all on their own (See: Air Control). They're very much a pre-crash Atari, except the Internet making information exchange so easy and fast won't allow us the fortune of seeing Valve's market crash.
I used to be a big fan of Valve, but I eventually became extremely cynical because of things like this. Part of me is also cynical because every time someone buys one of these broken games, Valve gets an undisclosed amount of the money from the purchase (I think I heard the figure of 15% thrown around) and don't allow for refunds unless law specifically requires it (Even Origin allows you to get refunds regardless of your local laws as long as certain conditions are met!), so I view it as Valve making money from someone else's game, and not even a good one at that, so they don't even have customer satisfaction going for them in these cases!