I'll do my best to answer your question before this thread gets set on fire with flaming.
A good portion of the reason why Nirvana is looked down on is because it's trendy to look down upon bands that receive critical acclaim. It "shows" how much of a rebel you are to dislike the thing that everyone else seems to love and therefore allows that person to distance themselves and stay an "individual" by not joining the legions of people who adore the band. However the irony in that is it seems that the Nirvana haters numbers are coming close to matching the Nirvana fans. Now this is just my observations from various music forums and actual discussions I've had with people and by no means does it speak for everyone.
The other people who dislike Nirvana for reasons other than the ones I stated above tend to lean to the musical aspect. There were a lot of artists doing similar sounding music to Nirvanan but never really broke it though and thus just remained cult favorites. I think this has led to a bit of anger and frustration among these people.
The biggest factor I think is that a good portion of Nirvana fans were not old enough to even really know about the music back in the early '90's. They know Nirvana more for the death of Kurt Cobain and the music becomes the secondary reason. There's a lot of people who believe bands should be known for the music they create and not the controversy or rumors that surround the members of the band.
Honestly that's all I can really think about, I've been doing a crap ton of writing and interviews today for an article so brain is a little tired and my syntax juice is just about up. Please feel free to pick apart my reasons piece by piece and explain to me the holes in my theories.
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