I just wanted to chime in and say the reason I dislike it is the steampunk element.
It's not powerful to me, it's not me making another joke about psionics, I'm fine with ripping Eberron stuff out and reflavoring it. It's just steampunk, I don't get it and really don't care to. The entire steampunk setting is based on wtf stupidity to me and makes less sense than gravity or love. Eberron has applied the concept of magic to everything, magic powered air ships, magically generated electricity for trains, magically programmed cyborgs, magic this and magic that then ignore all of the ramifications. You can magically program highly advanced robots but you can't code a bug to open their CD tray? You can pick up and hurl several thousand tons of machine for public transport but where are the rail guns (or at least warforged shooting guns). Let's load up on the concept everyone has low level magic, then claim the 13th moon is invisible like no one has cast See Invisible. Hell, they have the ability to ignore gravity and you would think they know if there is a 13th moon or not by visiting the damn thing. But you can't! Steampunk isn't cyberpunk, the moment you start applying the knowledge presented you break the concept and drift into another fictional theme. The entire 4th wall is based on everyone being too retarded to use the stuff they made.
Sadly, this concept of ignorance applies else where as Eberron's theme is steampunk. You also have Din, Faore and Nayru, eer. Eberron, Khyber and Sibery whom created the world, but even double checking wikipedia sure enough one one of them is worshiped. Um... If most of the religions admit to three of them, why are the other two just plain ignored in favor of a bunch of lowlife quasi-deities? And did you ever stop to think about the Quori? They are effectively the BBEG race and they are focused on stopping the world, metaphorically freezing it so nothing can change. Thats right, your BBEG is literally Steampunk's line of discrimination made real. Got a creative thought? Some Quori dude appears and says stop that shit. Only instead of encouraging thousands of rebellious teenagers to do it behind their backs everyone grows up with the idea to just kill them. Them, the dream givers born from the psionic-elemental-plane-thing of dreams, because killing your dreams is the best way to avoid stagnation.
It all just comes off as a poor joke for a world and where asking what if you use this in a different manner prompts a mob armed with torches into chasing you. I'm sure there is people here that swear steampunk is awesome but just refuse to play cyber games, or hate anima for the drawing style and a couple of well known protagonists yelling a lot, or what ever. I'm just the inverse and the simplest way to fix Eberron's gaping concept hole isn't a hand wave while saying it's magic, it's simply not reading the flavor entires or world building. Like FF9's mistpunk problems are really the result of left over science from an advanced alien race trying to keep the world at war to harvest the planet or Bioshock's boiled water has allegiances and big daddy confusion are really Soldier G65434-2's nightmare as a result of being in the warp time/space drive while it's software, Shodan, was getting hit with rockets.