Excerpt from RateMyMusic
(that articulates my mixed feelings)
It’s right in the middle of the Psych Floyd and the Prog Floyd phases and manages to sound nothing like either of them.
Pink Floyd followers fall into two groups: psychedelic fans who think Syd Barrett was God and Roger Waters sucks, and electronic prog rock fans who think that Roger Waters is God and everybody else sucks. Meddle will not please either of these groups because it was recorded quite a while after Barrett's departure, when all traces of his musical preferences were purged from Pink Floyd's music, and long before Roger Waters took control and devised elaborate concept albums smothered in effects, electronics and his personal traumas.
Oddly enough, this makes Meddle a group album, one of the band's few albums that aren't dominated by one personality.