question about BOSE reputation

I have never listened to a BOSE system but I have heard that many audiophiles "hate" this brand. Is this brand really that bad for the money? The other day I saw in the Bose web page a home theater system, the Lifestyle 50, which retails for $3700. I was wondering if there are a lot of options better than Bose for much less money. For example, do you guys think that I can go better with a Denon receiver and some not too expensive speakers from...B&W or Infinity for example? If so, which would be the least expensive Denon A/V receiver and B&W or Infinity speakers to beat away that $3700 Bose system? How much would that system be? Your comments and suggestions will be highly appreciated. Thanks. Jair