Incidentally, I should point out that I enjoyed the first Harry Potter book, and to a lesser extent the second and third (after that, IMHO, they’re ghastly) so I’m not trying to be nasty to Rowling. The first book was sensational.
What made The Philosopher’s Stone so good, though, was the character of Harry, not the mechanics of the wizarding world, which by necessity has about seventy-eleventy bazillion logical holes. If you re-read Philosopher’s Stone (Sorceror’s Stone, whatever) what jumps out at you is how much of the book is not about the silly mechanics of the wizarding world, but Harry’s desperate and very understandable need to be wanted by someone. Throughout the book he is terrified that he will be expelled or rejected by the wizarding world and sent back to a world where he has no friends. Despite all the amazing luck that piles up on him - he’s rich, famous, and a natural at the school’s premier sport - there’s a constant undercurrent of terror in his heart that somehow he’s a fake, that it will all be taken from him and he’ll be back to having nobody. Getting money and fame and Quidditch skills don’t seem to be terribly important to him; what is important to him is that he doesn’t want to be alone. That, more than anything else, is why the book works so damned well; it touches on the most basic emotional need we can have, and hits the 9-to-13 crowd right where it counts, in the I-hope-I’ll-be-popular weak spot.
The scene where Harry looks into the Mirror of Erised (boy, there’s an original name) and sees only himself with his parents is profoundly heart-rending; he’s won a lottery, and he still can’t have what he wants so badly, and so understandably. He’d give back all the money in his vault a hundred times over to have his Mom and Dad back. That’s the kind of stuff that tells a story.
With such a good story going on, the silliness of the wizarding world falls into the background. Quidditch makes no sense, but then a LOT of things make no sense. It’s absolutely baffling as to why anyone in the wizarding world is poor. The centrality of the school in the wizarding world makes no sense. How do any of these people learn to read, write or do math past a 10-year-old level when they don’t take any classes in reading and math? Why is the school so insanely dangerous?
If you have a good story, you don’t really care. IMHO, the story was stretched about four times longer than it should have been and THEN it started irritating me. But within the limits of Book 1, Quidditch making no sense didn’t bother me.