Anyone hear an echo?
Yes, V22 pales in comparison to H53 as a cargo mover.
Now take a look at all the systems installed, remove all the development costs (that's money that's been spent anyhow, what does one more V22 cost?), check out the survivability, check out the time to get troops on scene, look at the stand off distance that a ship can maintain, look at the deck operating limits such as sea state, footprint.
While its easy to look at high speed and be impressed or high cost and be annoyed, the only applicable examination is a full role suitability study. It certainly won't do the complete job of what its replacing, but that doesn't mean the current aircraft are the most suitable for the role. V22 does open portions of the envelope that will be a gain in some roles. It will not replace the work of a pure helicopter. It will never outlift the H53 or Chinook, nor perform better at altitude.
Don't be fooled by the propaganda into thinking its all singing and dancing nor by the media that its a useless cash cow. Do listen to experts that can provide details on its actual performance, and do consider the job it will be expected to perform.
My opinion, a limited market will appreciate the V22 but most existing helicopter operations will have little use for the different capabilities.
Matthew.