I see what your saying, though there is a lot to like about it. Then again, I had the luck of someone explaining to me what I was in for!
Now I think about it, could that be what divides opinion on this work? Were all those who favour this novel, lent a copy by a friend who told them 'This is great, but...'?
I can't help thinking Banks should have at least put some paragraph at the start, explaining how things will flow. It could easily have been done in character, as occurs exactly in Inversions.
A heavy handed measure, perhaps, but it would have saved a lot of readers a lot of struggle!
(Just noticed One of the little adverts at the top of this thread page is for 'Culture Jobs'. Looks like Diziet Sma is keeping herself busy, anyway...)