Personally, I hated it. It started out as "okay", and quickly turned into a "how many heroes and villians can we cram into this story" type of disaster.
I mean, how many hundreds of peopel have to die before the X-Men, Avengers, Fantastic Four, and Ghost Rider (who responds to the death of innocents) show up to visciously dispatch the motley crue of b-listers that followed Carnage around?! Ugh.
Also, this arc was the beginning of the "nothing can stop Carnage because we're going to make him as incredibly powerful as possible so that even the SILVER FREAKIN' SURFER can't dispose of him" (see later arcs). Sorry. I was a Carnage fan through the first arc, but I thought they should have left it there. After this, I never cared to see him again. I mean, we went from one month having Spectacular Spider-man #200 (GREAT STORY), to the next month, having the beginning of this crap-fest. It was the starkest of contrasts.