Well, Comic Sans is a poor excuse for a hand-lettered font, and there are a zillion better out there, even if most lay people are unaware of them. Papyrus, though, is a gorgeous font (a modified Carolingian with caps and a distressed effect) that is the righteous choice when used correctly. Like anything that looks simple on the surface, though, people are going to copy the wrong thing when they try to duplicate someone else's success. Papyrus can figure strongly in a successful design, but it's rarely the font alone that makes a design work.
Even then, it's limited to a kind of "cramped technical pen" lettering that would be expected in alternative or underground comics. There are other comic book fonts that would be more broadly applicable.
Anime Ace is a particular favorite of mine for speech bubbles and narrative blocks. Badaboom works well for in-panel sound effects. There are many others, but those two remind me most of my Marvel childhood. (I has Spidey #1 and Hulk #1. They cost a dime at the time, and who the hell knew they'd be worth anything? Same with my Bobby Orr rookie cards -- I traded a bunch of them away for proper Leaf players, and wound up putting the last one in the spokes of my bike the next season.)
Inspired by the lettering for Watchmen, if I remember correctly. Which is why I found the font itself much more palatable, you just have to read everything printed with it in Rohrschach's voice.
Yes, it's supposedly inspired by Watchmen and The Dark Knight Returns, which are both excellent books. However, the letter shapes of those two books are closer to each other than they are to Comic Sans. It seems the font creator relied more on his intuition of how comic letters should look than on observation. There's a good comparison of the three fonts here:
