I both like and dislike Material Design :)
I really like that it's gotten more web folks thinking about motion as design element and how to do it well. Material Design's motion guidelines was the first time most devs had ever seen motion handled as something that applies to UX and good design. And that's great! I love the discussions around animation that get sparked from this. (And there are some very smart folks behind Material Design's motion guidelines.)
On the other hand, I don't think it makes sense to build 100% with Material Design's framework if you're not making something for Google or Google's ecosystem.
Material Design is Google's take on how design should be. There are some solid points and lots of good general rules in there. But Google's branding and point of view are also in there. It doesn't make sense to use Google's branding and point of view for something that's not related to them at all.
I think the better approach is to take what you like about Material Design but put your own spin on it. Add your brand or product's point of view to the general best practices that are in there instead. I don't think adding that point of view is ever a waste of time.