Not exactly a fair comparison seeing as how Lovecraft was writing his stories about a century ago. That's not to say that it can't bother you, as it certainly bothers me, but it does read in a different light. Fortunately you can pick his stories that don't feature those aspects. I do the same with Howard, as some of his Solomon Kane stories are unbearably racist and some of his middle Conan stories are way too sexist. Then there's Smith, my far and away favorite of the three, who barely had anything of the sort in his stories.
And there's no way you can call Lovecraft's writing bad. At the very least, not in the same way as Berserk, where you have nonstop lines akin to "You puny mortal/you foolish human" and some of the most awkward political intrigue dialogue around.
