No, it doesn't suck. It is quite adequate, even if there are other programs available which do have more features.
My Verizon LG G3 came with two SMS apps built in. The second one from Verizon is a little better than the stock one. I next tried Chomp which I initially liked even better but it is not correctly indicating whether text messages were received. Tech support from them says they will look into it. I am currently using Handcent. It also has advantages over the stock program, but if I had to I could live with either of the two apps the phone came with.
I have now been able to eliminate the program I used on my previous phone to add customization of ringtone and light colors for recipients. One feature I wasn't previously aware was available but now like is putting a couple second delay on sending for those times when I hit send by accident before a text is finished.