MFC was no dumbed down application framework but a higher level OO abstraction on top of Win16/32 SDK. It is one of the largest and most successful application frameworks in the industry. You had to learn its own concepts and architecture which were somewhat complex and had a steep learning curve but the payoff was excellent. I remember going through all the MFC Tech Notes from MSDN and poring over the "MFC Internals" book to get insight into its design and techniques. You learnt how to modulate OOD/OOP principles in service of practical implementations. Two good examples are; 1) Making all member variables of framework classes "public" (!) in order to allow the developer to drop back to Win16/32 SDK as needed and not be constrained by the application framework 2) The technique of MESSAGE_MAPS to avoid vtable memory blowup but still provide virtual function like functionality.
When i see kids on HN badmouth OOD/OOP and specifically Inheritance for code reuse via application frameworks for skeleton apps, i just shake my head and control the urge to smack them up the side of the head :-) They have been so spoiled with all the powerful application frameworks/libraries available today they simply have no idea of the design effort it took to come up with these frameworks/libraries but take everything for granted.