The toast slot is too narrow. You can't heat a bagel - well, technically you can force it in there, but it won't come back out with some help from a utensil.
They get flakey and you end up bouncing the toast a dozen times to get it to lower. Yes, I know there's an adjustment, but it's finicky and annoying. It's a toaster for crying out loud.
Yes, the design is ingenious, but there's a good reason they aren't made anymore.