In reality, the name "Material Design" is a branded term for minimal design. It's a style just like any other approach to design. I like it and feel it has a purpose because of it's simplicity. I've always been a fan of minimal design even when Skeuomorphism was king. My style derived from what I learned by studying Sumi-e. Communicate the essence of the subject with minimal strokes. Material does just that. I think where many go wrong is the misuse of negative space and juxtaposition which results in designs that are off balance. Another area where designers go wrong is not using the Material components correctly or consistently. Using the metaphors and patterns in a way that confuses the user.
Anyway, as I mentioned, it's a design style. If Material Design fits the needs of the project be it web or mobile, I say use it.