Apple should have labeled it beta then.
It doesn't take a genius to understand that Apple (or any other company) didn't had the capability to mass test it and put the system under the pressure that it currently is. I've played World of Warcraft for years and since day one... Despite being one of the more ambitious game project ever made, the first months were a nightmare. There were patches every few days fixing problems. Does that mean that Blizzard should've label WoW as beta? No, because Blizzard couldn't, possible have test it for 1-2 million players at once overloading the servers...
Give it time, at least the trial... And then let the name calling start!

You have nothing to lose really...
Here's the catch. That thing where it deletes a bunch of your music? It doesn't happen until you turn iCloud Music Library off. In the meantime, it may be replacing some of the files on your hard drive with DRM'd files (yes, this has been reported), but you won't know unless you check.
I always had it on, and again, no problems. But again, in my case i started my library from scratch. But my GF did not and she didn't had problems with deleted songs.
So it's totally possible that LOTS of people, including you, will have issues down the line, you just don't know it yet. And it's totally possible that if you're using a backup service that replaces the older backups with newer ones (like Time Machine) that you won't even have a good backup when you find out you have issues.
It's also possible that those problems are localised and will be fixed in the next interactions... It works for both ways. That's why i said that people tend to over react. Again, give it time...
So, just because "everyone you know" isn't having issues (that they know about), that doesn't mean you should dismiss reports like this out of hand. What you should be doing is making sure you have a good backup of your music from BEFORE you turned on AM, and taking a closer look at what you actually have on your hard drive.
First, what makes you think that i didn't look at my hard drive? My background is in computer science, so trust me, my professional life is on those disks, so i keep them tight down.
As for the problems down the road, i'm not dismissing the reports. As i said, i'm not saying those guys are lying (well maybe just Dalrymple, because no backup? Really?), i'm saying that maybe its not as widespread as some of these guys seem to want it to be. Plus, there is no sense to worry with something that might happen in 5 years or whatever time if there are no real proof that it will happen...
For example, when i bought my last MBP, i got a SSD from a third party. In countless forum threads (including on this forum) people were saying that without trim support the SSD's would slow to a crawl after x months... 4 years and a half later, it still as fast as it was when i bought and even if it fails, lets say in the next year, it has lived all the life cycle i was expecting it to live.