I have actually heard some people refer to Stingrays as "one trick ponies."
To those people: How does it feel being completely wrong? Do you dread waking up in the morning? Do you curse the bus driver for *not* running you over? Was it that your parents not love you enough?
In all seriousness, the Stingray is one of the most versitile basses out there. They are great for funk (Bernie Edwards, Louis Johnson), rock (Cliff Williams, John Deacon), metal (John Myung, Robert Trujillo), punk (Mike Herrera, Joe Lally), session work (Tony Levin, Pino Palladino), country (just get a 5 string 'Ray, put flats on it, and dime the bass) and much more. With that big ass pup right near the bridge, and the MONSTER of a preamp (especially the three band), any sound you want is just a knob turn away.
Come to think of it, I can't think of any genre where a Stingray wouldn't work.