I think those movies are praised because no story is better than a bad story. Many recent "action" movies tries to have a story, which most of the time isn't great and just dilutes the action. John Wick doesn't waste time with that and gives you just what you want: action.

A sibling comment compared it to "The Raid", which I think is a fair comparaison. Both series are very action oriented, both have action scenes that are better than other action movies.

You can see it as a rejection of the idea that you need a bit of everything to create a good movie. Those movies are not balanced at all, but by focusing on their strengths instead of their weaknesses, they end up being good.