Yes, it's rightly deserving of legendary status. There are only two or three parts, they were built well, finished well, work well with modern and vintage blades (blade characteristics have changed a lot over the years) and to my mind their aesthetic appeal is quite something. They're also very inexpensive, by and large, and easy to find.
I only have one now - an aluminium Tech. For the size of the razor I think the weight is just right, and the knurling on the handle really appeals to me. It's in very good condition and gets used regularly. It is also th eonly razor I have that fits in my spare toothbrush holder slot!
The other Tech I had was a ball end. I gave it to my friend whom I converted to DE a few years back, but he had been using a Merkur 1904 (which is a modern homage to the original 1904 Tech!). He found it too aggressive and so I stepped in with a real Gillette Tech. He doesn't suffer irritation anymore and he hasn't even considered another razor since!