Heh, I worked with MT for a whole year at theage.com.au and basically the only thing they have going for themselves is static html… which of course Super Cache does for WP very nicely (so I really wishthey’d shut up about that bit – it makes our clients nervous and means we have t say bad things about MT ;)
So that aside, everyone needs plugins (we’re all different, right), stats in your dashboard are like, so, who cares (hardly a challenge with WP too)… and as for design and support… hmmm well that’s a bit subjective.
Seriously though, competition is good so I do with MT the best of success (and others), it’ll help WP improve, but as for being a competitive alternative, not by a long shot just yet guys.
Update: Hear hear… I forgot to mention that it’d be virtually impossible to build anything like Edublogs with MT.