Again, thanks a lot for all replies.
I would like to start from MintJulep's post, because I too think that it touches a really important aspect of the problem. A lot of people tend to have negative opinions/feelings about certain concepts (not only MBD, Model Based Definition), while in reality this is just a result of incorrect understanding of what the concepts are really about.
With that said, MBD does not mean that detailed definition of a product is not needed any more. MBD is just as much about full and unambiguous dimensioning and tolerancing as any other traditional method of product definition. The main big difference is that in traditional approach (let's call CAD generated 2D drawings this way), unlike in MBD, geometric characteristics specified on the drawing are not embedded in CAD model, thus can't be "automatically" used/consumed downstream as a source of allowable variation by manufacturing, inspection or quality planning.
I agree that MBD (or actually the broader concept called MBE, Model Based Enterprise) requires that everyone in a food-chain has access to the engineering model. But that is exactly what this is about. That is why it is called Model Based Definition or Enterprise. The CAD file, and everything that is in it, is a master that drives the entire process.
High quality traditional 2D drawing requires high quality GD&T (among other things), but even that can be worthless if downstream users don't understand GD&T. In MBD/MBE high quality GD&T applied to the model can be quickly and seamlessly transferred downstream without a need of being interpreted in between by any human being. This, to me, is something really huge. It is quite impressive to see when for example a CMM software imports a CAD file with a geometric definition in it, and with the press of one button it is able to extract that definition to create all inspection paths for verification of the definition.
Of course, a real life is not always that beautiful. In many cases it is impossible to take full advantage of MBD (for different reasons). Sometimes, as it was already stated, MBD probably does not make sense at all. But it is an interesting tool/methodology that definitely opens up new interesting possibilities not available in traditional 2D approach thus far.