There is nothing good in soda, in terms of vitamins or nutrients. Aspartame is horrible for people, and the amount of sugar in the non-diet sodas has been proven to make people obese. It is addictive, and can lead to stomach issues, rotten teeth, and fills up children so they don't want to eat healthy foods.
There are many things that are worse than soda. Cocaine, Heroine, and Crystal Meth are a lot worse for your health. I have seen people's lives destroyed by drugs(Health wise, and financially). As for the diabetes argument, sugar is not the only cause of diabetes. Lack of exercise and genetics also play a role.
If you keep your soda consumption to a reasonable amount, like one a day, I don't think it is extremely bad. I think the negative health effects of soda are greatly exaggerated. I'm sure doing things like smoking cigarettes is much worse for your health than drinking soda is. Now, if you only drink soda and no water that is different.
In moderation, soda is not that bad for you. If you drink soda within the right limits, soda can be a refreshing drink that you can enjoy and not be too unhealthy for consuming. Those people who choose to overindulge in drinking soda make it unhealthy, and can lead to health problems.
I think that soda is bad for people if they drink too much, but that is true with anything. I think that a person who drinks one or two sodas a day can be a very healthy person. Certainly, it's better to drink water, but I think that drinking soda in moderation is not all that bad.