I personally have a number of reservations to the New Age movement, but at the same time hesitate to make sweeping statements.
First, the New Age movement owes a lot to "underground" streams of Westen thought such as occultism and theosophy. These movements, however, were mostly initiated by a few dodgy authors catering for the bored upper classes. The claims of having been initiated to some secret brotherhoods holding ancient knowledge, e.g. by Blavatsky, were simply fake. I do not feel attracted to those thinkers at all, and I personally hold the opinion that esoteric writings by Steiner and Blavatsky are simply unreadable pretentious gibberish.
Second, as the above writers (e.g. Blavatsky), New Age uses a plethora of exotic images, with generous loans from all types of cultures, with quite a tendency of being superficial. In any case, I see no reason why I should study, say, tarot, crystals and feng shui.
Finally, I feel the New Age movement, at least as it presents itself here in the UK, is too much based on individualism and consumerism. There are numerous centres of "holistic healing" etc here that offer anything from Reiki over sweat lodges to fire walking to establishing contacts with meremaids and fairies - for hefty fees. So they clearly cater for the economically successful. Anybody else is excluded. All this might provide entertaining spare time activities for young successful professionals, but if somebody really has problems, I fear the "holistic healing" market will gladly take the money and have little if anything solid to offer in exchange.