I have a bit of a different view on this.
When you put the term "utility player in the context of a 162 game MLB schedule or 144 game Milb schedule, it is a compliment to the player.
Is there something "missing?"
Well, the answer is yes. He may not have the power production for a 3B, the range or arm they like in a shortstop, or the range or ability to turn the double play they like in a 2B, or it can be he isn't as solid in hitting as the other 3.
What he does is saves a roster spot since he can play 3 positions, do them well and give everyone else that needed rest that some guys apparently felt required steroids.
What that utility player might lack on an individual comparative basis, he gains in his versatility since the 3B, 2B and SS cannot do what he does and play all 3 positions and play them well.
This versatility gave our son his opening in Milb.
In our son's case, what he did that the 2B did not was show up on time when the bus left for Wisconsin.
From there, he led the team in games played, AB's and hits/hitting. Managers in Milb/MLB love a guy they put in the lineup and know he does the job no matter where he hits and what position he plays.