I'm not saying iTunes Match couldn't have been a little less buggy than it was upon its release.... But at the same time? If I paid their $25 to use it for a whole year, I'd feel like I got my money's worth out of it, easily, if it simply offered me better bit-rate versions of the music tracks I owned! The ability to cloud stream the audio and all that would just be a "bonus" to me at that point.
I mean, yes, Apple tends to release bundles of features in new product releases that you wish you had in whatever previous one you purchased. That's called "a good business model". I think at any point in time, before you buy something, you have to take a good look at what it does and doesn't do and then decide if its asking price is worth it for what it does.
Time and time again, millions of people vote with their pocketbooks that Apple's products are worth buying -- regardless of some of the bugs or missing features. If you buy software, these days, under the assumption (even if they promise!) it will get free updates, you're a fool. Not to sound like a jerk, but it's just the truth when companies are bought and sold, or go out of business left and right, and good software developers come and go constantly.