I'm not a fan of the current cycle, and I think the prior releases illustrate a fundamental flaw in this approach. You cannot have the marketing department dictate when a major release is rolled out. I think we have that where we they now adhere to an accelerated pace for upgrades.
I think overall, they see how successful iOS is with their annual update and decided its a good idea for the desktop.
I'm not saying the cat releases were bug free, but I think the mentality of not releasing it until its ready is a better approach, then always releasing a major update every fall. Of course Apple is not doing anything different, Ubuntu does a 6 month release schedule, Windows is also on an annual update at this point. I think the state of the industry has mature to the point where it may make sense, but I stand by my assessment, that I'm not a fan of it.
I guess I must be lucky or something because I've had no major issues with any release, cat or California themed, and it's hard for me to see. I did however find Lion and Leopard not especially well optimised (it took their respective Mountain and Snow releases to fix this) where Mavericks, Yosemite and El Capitan I found to be excellent OS X versions. It's not like my Mac just sits on a desk doing nothing (and it has never been used in Starbucks) it's travelled with me to client offices and data centres across Europe and the US and always, well, just worked.
I guess I do not see exactly what it is people are complaining about in this release cycle and this thread hasn't given me much to go on. What exactly does the beats acquisition, the watch or Apple TV have to do with the quality of OS X or its release cycle?