But just to be fair all the new mutants have crappy powers...
That's kind of true.
Let's take a look to the New Mutants of the past . . .
New Mutants I:
Cannonball - Pretty damn good. Use chemical energy to fly, form a shield, blast things, asborb energy, and explode things without being hurt.
Karma - Mind control. Not bad.
Magik - Teleportation, a magic sword, magic armor. Good, I guess. More magical than mutant.
Magma - Pretty damn good. Flame, heat, rock, and volcanic manipulation.
Moonstar/Mirage - Project illusions. Amusing, but mostly useless.
Wolfsbane - Completely useless power, in terms of the Marvel Universe. Ability to turn into a wolf. Of course, 99% of the villains and heroes in the Marvelverse can bat away a wolf like it was a fly.
Sunspot - Solar-powered superstength and flight. A sissier version of Superman. Recharging his powers puts him at risk for skin cancer.
Cypher - Why did they bring this guy into battle? He can talk to anything or anyone. While that's not stupid or useless - someone with that power is better suited to sitting behind a computer screen and coordinating people and feeding them informaton. Not hurling his weak body at beastmen. Frankly, it's less a power than a very good skill.
Boom-boom - Creates energy bombs. Nice.
Generation X:
Havok - Blasts of incredible psychic energy. Unfortuantely, he's dead. So not that impressive.
Jubille - Creates fireworks. Just nice. Not bad, not great.
Husk - Rips off her skin to transform into other things. Eww. Just . . . eww. There are bits and pieces of her lying around whenever she uses her powers.
Synch - Like the black guy in the current New Mutants - he's another mimic. He can copy the powers of anyone around him. Very cool if you're fighting superhumans. Useless if you're going up a guy with a gun on your lonesome.
M - Two weak twins who combine into a some psychic chick. Creepy.
Skin - He can control his skin. Eww. What is it with the focus on skin-based powers on this team?!
Penance - If I remember correctly, she had a razor-sharp body. Ouch.
So, yeah - a couple of really good powers (Cannonball, Magma), a lot of mediocrity, and several out and out SUCKS (Skin, Wolfsbane, Cypher).