There is a tendency of people (and I mean all people - not singling any person out) to refer to things they don't like as "not good." If a meal is ordered at a restaurant, and it is properly prepared and served, yet the customer doesn't like it, that does not mean the meal wasn't good - it just means the customer didn't care for it.
I think what we should focus on to determine whether a tool is a "good tool" or a "substandard tool - aka boat anchor" is does the tool do what the user wants/needs at the time the tool is used. This "what the user wants/needs" is a highly variable quantity.
Looking a the original poster's requirements of the tool, the SDS drill in question was capable of doing what the user needed. MrB wanted some holes drilled in concrete, and the tool was up to the task. For MrB, the HF SDS drill is a good tool.
Even with that statement, there's room for adjustment, as attempting to get a function out of a tool that was never designed to provide that function is not reasonable. Buying a standard drill, fitting it with a 3/8" masonry bit and then saying it's not a good tool because it won't bore a 3/8" hole in 30 year-old concrete would be an example. Therefore, you can't say a tool isn't good if you're using for some purpose other than what it was designed for.
In general, with tools, "you get what you pay for". A user purchasing a HF SDS drill intending to bore 100 holes/day for 100 days is likely to be disappointed. That doesn't mean the tool isn't a good tool - it goes back to expecting more from the tool than it was designed to provide. This not saying it can't do it, it just seems unlikely - to me.
Some prefer to purchase only high-end tools because the demands of their work require reliable and durable performance. Others with the same work demands will still prefer the cheaper HF tool, considering it a disposable unit that's easily replaced when it wears out, gets abused or gets stolen.
Avoiding the term "professional", I'll offer that any individual that does work as a vocation (specific set of tasks performed on a regular recurring basis) and invests in consumer-level tools (which, in my opinion, includes most everything from HF) is eventually going to encounter a situation where that decision was not a good one.
The tool is going to encounter a situation that it cannot handle (there's a big difference in drilling 1 year old concrete and 20 year old concrete, all things being equal), and the user is going to be unable to complete the task at hand, or is going to take too long to complete the task, causing problems in other areas of the job.
If the tool craps out, then it will have to be replaced in order to complete the task at hand. The user may still decide to purchase the HF tool for one of two reasons (again, in my opinion) - 1) they're loathe to spend big $ on a seldom-used tool, or they're just flat cheap, or 2) they've done the economics and have figured out that the cheap tool did just fine for the use it saw, and therefore replacing like with like is a reasonable decision.
If the tool is simply under-designed for the task at hand, then a more suitable tool will have to be purchased. At that point, the same logic tree will probably come into play as for replacing a broken tool.
For me, I value time and loathe false economy. I'm not a "professional", but I won't spend money on something I don't believe will do what I need it to do. Any money spent on a tool designed to return a desired outcome that fails to do so is wasted money. I don't have enough of time or money to waste it.
Again - if the tool does what the user needs, it's a good tool - FOR THAT USER. That makes no judgment as to whether it will do that same task again - it is a that-time-that-place assessment.
Full disclosure - I own the Bosch SDS 11255VSR rotary hammer. I don't own any Snap-on tools - just Craftsman. I have several Harbor Freight electric hoists...