I haven't found anything wrong with it at all, much less "terrible."
What have your experiences been?
Given recent revelations, it seems Apple needed turn by turn navigation, Google didn't want to give it without pushing their invasive latitude tech into the Maps app. Apple had to accelerate its own map plans.
I'm amazed at how well it works as a 1.0 app and service compared to Google's which has dominated for SO long with its own maps technology.
Apple's biggest mistake was how much it oversold Maps as the greatest thing ever when it simply matches what's already here. (They were right to brag in China however where it is lauded.) Now, every little error is proclaimed as evidence of how "terrible" the data is, when in actuality Google Maps is full of similar errors and no one has made any definitive comparison -- and what a difficult task that would be!
The way it deals with some types of searches can be improved.
The other unfortunate problem is that missing transit information. Haven't needed it myself, so I don't know how well the third party thing is working out yet. Heard it was getting populated pretty quickly, though.
It's a public and embarrassing problem, but it seems more PR and steady improvements will fix it than anything drastic. Should be good for everyone as there will be a big Map tech duel in the next couple years.
They should have labeled it as a beta. Unfortunately, they've already done that to Siri. It will probably take Apple a long time to match Google Maps in "little things", like being able to see the outline of individual apartment complexes in some locations.