The same is true of my 1991 Trek 520 -- it has a high bottom bracket. In 1991, the 520 had the same geometry as Trek's nicest steel hybrid (the 750?). The frame was nearly identical, the only difference being a couple braze-on fittings. I figured that Trek had cut costs by using the same lugs on both frames. Also, IIRC back then the 520 was measured in inches, and, like the hybrids, had 2" gaps between sizes. So that would be a 21" frame, and you should be pleased it wasn't a 23". :-)

In any case, I've always thought the bike rides well, especially when fully loaded (front and rear). Sure, it doesn't feel "nimble", but that's not what I wanted, especially when touring. I think you got a good deal. Enjoy the bike.