I disagree with you, OP. I think it is a good game.
Edit: More substantively, I often wonder about the reaction this game elicits from certain people. Like why do so many seem to take some sort of offense that others find this game meaningful? Is it because it criticizes a genre they happen to like?
Spec Ops tries to play up the absurdity of role-playing a hero who just kills people by the truck-load. When people criticize the game for not making that "more fun from a gameplay perspective," I honestly feel like they miss the point of the game by a country-mile. Don't get me wrong, I'm usually a mechanics/gameplay first kind of guy, but there is no solid rule of game design that says that the only aim worth achieving is "fun" -- that mechanics can't be used to elicit other responses in the player: like dread and disgust; feelings of futility and disempowerment; or simulating the grim tedium of endless combat and death.
I can imagine some people rolling their eyes at what I just wrote, but Spec Ops honestly elicited those feelings in me. (And, yes, I am an educated, mature adult who has read more than one book in his lifetime.) I don't just think Spec Ops is a good game -- it's a fantastic one.
I respectfully dissent.