It's not a classic.
I think Em needed to make this album to get the fans and the media back on his side. He didn't wanna be just another rapper in the rap game, he wanted to be "the" rapper and he knew, he could't drop relapse 2, he had to do recovery.
Now, is recovery a bad album ? Hell no. It's definately a really good album. The only bad thing about the album is the production. IMO it didn't sound like an Eminem album when it comes to the production. But as far as lyrics, flow etc. go, it's almost as good as Relapse. The only thing that pisses me off, is that he was bashing relapse, but i guess on "the reunion" he kinda admits that he likes it, wich we knew even before that ...
To sum it up, no, Recovery is not bad, in fact, it is really good and better than everything that was released that year.