It all depends on how much of a rifle nut you are, really, and what you expect out of the rifle. If you want a rifle that will shoot 1" groups all day with any ammo you run through it, the factory 7400 isn't for you. If telling people you have a Browning is important, you should get one. Prestige is part of having a Browning.
Although the 7400 could be if you spent enough on it. Accuracy Systems in South Caroline will build you a custom 7400 (7600 too)that is guaranteed to shoot less than an inch. It costs about $1300. If the rifle/action was such a crapper, then why in the world would a company that is renowned for the work it does on Ruger Mini-14/30's, AR-15's, and Remington 700 bolt rifles even bother to offer such a gun?
I've shot 5 Browning rifles, and yes, they are a nicer gun in all aspects. And you pay for it too, plus the Browning in gold letters on the gun. Not one of them was more accurate than the several 7400's I've shot. The hundred (low end) to several hundred (high end) dollars extra you spend on the Browning could be put into a good scope or other equipment. The Yugo analogy is like telling someone forget Chevy and buy a Cadillac instead, you'll have a better car. Problem is, not everyone has the coin for a Caddy or a Browning.
Whether or not gun shops will trade on the 7400 is a moot point. That is a regional thing. You can't walk into any shop in my area and see a Browning, new or used, on a rack (except Bass Pro Shops), yet the 7400's and new 750's are all over. When I worked for Wal-mart, I probably sold 100 or so 7400's a year, and it was a rare case to have a complaint about one. Remington's of all makes rule the woods in this area. In 7 years at Wally World, I never even special ordered a Browning.
I'm not a big fan of Remington, honestly, but the 7400 is as good as any other semi-auto out there. Keep it clean, will run with anything. I trade around quite a bit, probably 80 rifles in the last 4 years, so I've played with about everything. The 7400 is the only Remington I own right now.