I remembered I actually had a Steam copy of FF7 (which I never played when it was new), so I gave it a second try (last time around I got stuck in a boss fight without health potions and didn't have a savegame to go back to and stock up).
The mechanics aren't that bad, actually.
The story and dialogue... juvenile, one-dimensional, silly, unrealistic - and that's okay, because this is a cartoon. The characters are presented as puppets.
The limited tech at the time was a blessing in disguise.