The problem here is that regardless of wether U2 thought NLOTH was sub standard, they turned 360 into a Greatest Hits Tour because U2 thought the public thought it was sub standard.
I'd go and see them again if they made a new record that was any good and actually toured that record, regardless of what the public thought. But I don't want to spend money on another Greatest Hits Tour.
If U2 had taken the same attitude with 360 that they did with POP, we would never have got any of those outstanding POPMART dates. I loved hearing Discotheque, Mofo, Velvet Dress, Miami, Gone, SATS, LNOE etc. Alas, they've gotten old and rather conservative these days. With POPMART the critical/public reaction was dubious but they pressed on and made it work. With NLOTH they just gave up.