In the future, when an author thinks that his book isn't worth reading, I'm going to take his word for it. The Big U is too over the top to be an enjoyable, subtle satire of the large university life, although it had that potential in the beginning. On the other hand, the melodrama and large scale events are too trivial for the novel to be epic. The overall effect is pretty "meh."
The detail and fact finding that Stephenson is known for is all but absent in this book. The only signature Stephenson move that the Big U contains is the litany of story lines and multiple character narratives, but with uncharacteristic brevity and lack of details, the constant storyline switching is irritating and makes the novel shallower rather than deeper.
Also, Stephenson should know that his fans are the physics majors, hackers and LARPers of the universe and be a little more careful with the negative stereotyping