As a parent, I don't see Minecraft through the rose-colored glasses, as it seems to be commonly described. While a game was supposed to be nonviolent, plenty of Minecraft servers seem to have added functionality that allows direct fighting and ability to kill other players. Chat capabilities go unmonitored and "adult language" is widespread.
Due to Minecrafts de-centralized nature there are no effective technological age or content controls, leaving children (mine anyway) exposed to kinds of things that I would prefer them to consume in limited amounts or not at all.
The only realistic technical measure of control is to prohibit playing Minecraft at all, or at least prohibit network play. Unfortunately, given Minecraft popularity this is not feasible. My parenting approach does not include use of force or abuse of my authority, (where safety or law is not directly concerned), so I can't in good consciousness prohibit it outright.
On a personal level, it annoys me that a game world with a level of 3d graphics and physics sophistication that was state of the art 20 years ago is extremely popular today, but I can see the draw of "retro" look and feel.