Someone else may be better qualified to answer, but I guess it depends who is using it.
European charter airlines love it for it's short/medium high capacity role. Stick in an all Y cabin and ship 239 people on their holidays. But then some of the American legacy carriers also use her on longer routes. The 757 has great range and by enables airlines to increase frequency on the longer routes.
It's an extremely versatile aircraft. It has a large wing and is extremely "overpowered". That makes it an amazing aircraft out of hot and high, and short field airports. That's why it's nicknamed the Rocket.