I thought Cruise played Lestat with intelligence and a sinister playfulness that did the character from the novel justice. Rice was positively glowing in her review of his performance; she thoroughly and lovingly revoked her earlier misgivings.
If one is going to claim now, 17 years later, that the studio put her up to it seems to challenge the evident sincerity of that published piece, and to question her freedom as an author to express her opinion in print. Such a claim needs support before I'm willing to accept it.
These days it seems that dislike of Cruise as a person colors the perception of his acting ability. Personally I've never been anything but impressed with his performances, even if I think his religion is absurd and some of his off-screen behavior is questionable. In Interview with the Vampire he stretched his acting skills to the limit and acquitted himself nicely.