Complaining a bit about the gift doesn't mean you can't also appreciate the gesture. Geez. As long as you're not bitching the person out to mutual friends or to him-/herself, all is good and well.

I don't remember many bad gifts like that. When I was 16 or so, my sisters gave me a pillow with a crappy photo of myself printed on it, which was pretty bizarre. If I got that now I would think it campy and hilarious, but at the time I just hid it in a closet. And yes, I still appreciated the gift. I just thought it was a terrible choice of one. xD