I think the issue is you have never had French Toast that was properly made.
In the interest of full disclosure, and I know this will shake some of you to the core, but I have never had a waffle that I thought was even close to good. I keep trying but they all pretty much so are meh. And pancakes, while always better than waffles, are generally not good most places. As suggested, if they don't have that bit of crisp on the edge they aren't worth it.
See, I'm thr opposite, I've had better luck with waffles than pancakes. I like them just slightly golden with a little crisp exterior. I rarely ever get a pancake I really like. I prefer the texture over the spongy mess of pancakes.
That said, by far, I prefer French toast over either of them.