On attendings they are *****ic, pointless, ugly, stuffy, difficult to wash, disease ridden, and barely associated with the profession of medicine anymore. Many attendings don't wear them at all.
On preclinical students they are even more *****ic because in addition to everything stated above you now have to wear them during your preceptor sessions and they deliberately undermine the trust in our profession by causing patients those few patients who still attach meaning to the coat to confuse you for a real doctor.
The above goes for all non-doctors wearing white coats as well, except that, to pile stupidity on top of idiocy, these people are deliberately trying to be confused with doctors.
However on medical students in clinical years (and maybe new residents too) white coats are a blessed source of pockets and therefore a wonderful invention. Without those pockets I cannot express to you how lost you would be. You will carry both a small library and 2 days worth of rations with you at all times and that blessed garment will distribute that obscene weight almost equally across your shoulders while in no way impairing your ability to get at all your documents and reference texts instantly. For that brief period of time in your career white coats are baller.