At first, I was sort of skeptical. I read BakaUpdates' summary and thought, 'How predictable. What could possibly be so interesting about that?" Actually, I ended up really liking it.
The plotline is amazing, though sometimes a bit too shounen-y for my taste. Honestly, I find that the characters are kind of just used as a camera to show what's happening; there isn't really much characterization, and I don't find the drawings of people to my taste. However, the backgrounds, BioMeat, and just about everything else is drawn excellently, and the storytelling is really good.
It may not be to everyone's taste, but I really liked it, especially after chapter 10. Chapters 1-10 show how the characters have their first experience with the BM, so that it's all set up so that in chapters 11+, the characters already know some things about it and can take better action.
Edit: I totally want Shingo's glasses from the last arc.