Fag tapes is just a diary label essentially, the audio equivalent to buying a zine where someone doodles a page each day of the month and releases it. That doesn't mean it's bad, but it's certainly not consistent (or maybe it is crudely so) and definitely not for everyone. I get the vibe a lot of it is set it and forget it approach, not all tapes are great quality, poor dubs, weird mixes and some occasional brilliance. If you consider Heath is a painter/artist and are collecting in that kind of mindset then the risk reward is changed and you have a more realistic view of what your getting. These definitely aren't grand statements or mandatory releases.
I think that's part of the reason it isn't widely considered, other things are various drama around the label/artist in regards to stuff not being shipped (I've ordered from Heath, never had an issue, but it was a problem expressed at one point on the old chondritic forum), other stories of questionable behavior, and general burned bridges. Add that to party and crew vibes (Wolf Eyes association, and in the bad Olson sense) in a distinctly American way and it's not hard to see why it doesn't get talked about here.
I own a decent amount of Fag Tapes stuff, it is widely available here and cheap (5 bucks a tape) so when you walk into a record store and can't find anything remotely interesting but feel bad for aimless browsing you can just grip one or two and leave.
Favorite releases on it are probably the Final Seed ones (dude from Maths Balance Volumes) and the recent Evil Moisture was a good release (though Andy is always excellent and Royal Sperm is a much more interesting Diary Style/Art label), Sindre Bjerga, Dylan Nyoukis, and I like some of the other stuff for various reasons.
If you want heaths stuff just pick up Born to Die again LP or the other LP, I think his tapes aren't bad, there just sorta sick llama.
Best release on FT is Dilloways - Since He's Been Gone hands down.