I do think it is deserving, but that doesn't guarantee you won't be disappointed. It has a lot of qualities, but it might be the case that none of those qualities matter much for you or impact you in the same way.
The only way to guarantee you won't be disappointed is if you are interested in some meta-learning about how the literature is developed by people from a different culture and from a different time. Machado de Assis is definitely a great writer, and a unique one, especially for people who are used to literature from Western Europe and North America.
So, if you want to expand your literature horizons, it is a sure win. But even so, you might not like his writing, for any legitimate reason. There is just one way to find out.
You have more eloquently expressed my feelings that I ever could.
If you ever have aspirations about becoming a writer yourself, there are certain authors you should absolutely read. This is one, Gene Wolfe Cormac McCarthy, Hemingway and Gabriel García Márquez are others I put in this category.
You may not get as much pure enjoyment out of any of their books, but you will marvel at their craftsmanship.
The only way to guarantee you won't be disappointed is if you are interested in some meta-learning about how the literature is developed by people from a different culture and from a different time. Machado de Assis is definitely a great writer, and a unique one, especially for people who are used to literature from Western Europe and North America.
So, if you want to expand your literature horizons, it is a sure win. But even so, you might not like his writing, for any legitimate reason. There is just one way to find out.