Note the correlations between MBTI types and Big Five personality dimensions:
https://en.wikipedia.org/wiki/Myers%E2%80%93Briggs_Type_Indi...
These are not insignificant, particularly in the social sciences. 0.45 would be a large effect size in most psychology papers; 0.72 is huge.
I think a large part of whether people think MBTI is bunk or a useful tool depends on their willingness to overlook small details to get a general gist that's helpful but perhaps not totally accurate. Which is perhaps why another comment down-thread remarks that N's are much more likely to view MBTI as valid than S's (and sure enough, the indicator was developed by an INFJ and INFP, based on the ideas of an INTJ). "Personality" itself is an abstraction, and personality types are an abstraction on top of an abstraction. All generalizations are wrong, but some of them are useful.