Well, that's not strictly true, as each creature does have a pretty neat battle animation.
I don't find it lame at all. It helps if you think of it more as battle chess than as an RPG. It's not an RPG and doesn't make any pretense of being one.
I can see how someone accustomed to RTS and FPS games would find this slow, as you won't get the same adrenalin rush (except in key battles or strategic gambles). But I can pretty much guarantee that those who like Heroes of Might and Magic will appreciate this game.