Dated? Well, yes...it is from 1997 after all, and while the Build engine was used up to the early 2000s, it has not held up very well graphics wise. But you didn't slip into Lo Wang's sandals for that, did you? Racist and sexist? Well, yes...but it's so gloriously over the top that you cannot help but smile even as he says nasty things in a Yellowface accent.
There's a reason why Painkiller did so well, after all.

Yes, it is a Minecraft clone, but it is it's own thing, really.

Me? It's more like, "What would happen if Notch and company at Mojang did Castlevania or Metroid?" This is what you might get. And it's fun.

If you like GTA: San Andreas or GTA 4, you will probably like this game. There's more to do, and it doesn't take itself as seriously as GTA, which is a good thing IMHO, because while I love a good storyline as much as the next guy, there's a time for serious and a time for fun, and this one is hella fun.
The create-a-player mode is lots of fun, especially if you like being able to choose what you character looks like. You can be as serious or as crazy as you want.