It can be sluggish but I've never met an IDE that isn't sluggish and that's worth the price of me not using a text editor such as Emacs.
This "Java UI" that they use give them a competitive advantage - it makes it easier for them to support multiple platforms. I'm happy that I get to use the same IDE on multiple OSes, as I routinely use multiple OSes (e.g. for work I now use OS X, for personal projects I'm using Ubuntu Linux and from time to time I use Windows too).
What other IDE has a comparable feature set, works on Linux, OS X and Windows and does not suck like Eclipse does?