You're not entirely wrong, unfortunately. It's definitely more of a collectors piece at this point than anything else. However, I recognize that, for 1993, it was delivering some pretty impressive software. Return Fire was a brilliant capture the flag game, Need for Speed started life on the 3DO, Road Rash was perhaps the finest iteration in the series, Policenauts was an original 3DO release and FIFA was hugely impressive for its day. There are a lot of weird interesting games on the platform as well.
It's not a great system by any means, but it is worth exploring. It's certainly a better platform than the Atari Jaguar.