This wasn't really a question of, "Is Srirachi good or bad?" so much as what the title says. The hype leading into this was pretty big, so I was expecting more. Well, maybe I wasn't, since I've had my fair share of hot sauces and oils over the years. Don't get me wrong, I don't think it's bad. It's good, tasty enough. But I find it pretty similar to what I've had in many many Asian restaurants over the years. It's pretty much your standard garlic-chili sauce as far as my taste buds can tell.
I just did a quick count and I have 7 different hot oils & sauces in the house now (not counting the backups). I have different kidns of hot sauces for rice, noodles, kung pao chicken, and dumplings. They're all different and I think they all have a place in my kitchen (at least). I'm sure I'll end up using this whole bottle, and likely buying more as I learn what it goes best with. But I think the hype is a little high for the payoff.
I personally find the oils better than the sauces, like Jimmy says. I also prefer a flavorful hot oil as opposed to just brutally hot. The one sort of exception is when I eat Szechuan food, which is flavorful for sure, but also brutally spicy sometimes. I'm also not afraid of MSG.
Maybe we'll have a hot sauces & oils party one day.