I think Second Wave Feminism was absolutely necessary, though, because even in the wake of First Wave Feminism women were still treated primarily as objects and property, they just were more likely to go to community college and have secretarial jobs, and didn't wear corsets anymore. There was still a very unethical inequality before Second Wave Feminism, and because of the middle class white women who pushed boundaries, went to universities, waited on marriage (or chose not to marry and/or not to have children), and started careers, it opened the door for true equality in the sexes, and it also helped to influence rights in the gay community as well, because of gender bending, more flexible sex roles, and openly addressing lesbianism.
Third Wave Feminism has its flaws because, yes, some people disagree that sex work can ever be "empowering" and think that's ass backwards, and also this is where a lot of the over-exaggeration began, IMO.
I do consider myself a Third Wave Feminist, though. Just not an extremist.