A better critique is that Joseph Smith never restored the ancient belief (still held by most Christians, actually) in the real presence of Christ in the Eucharist. Not only is that from the Apostolic era, but Christ Himself established the institution! (Luke 22:17-20, Matthew 26:26-30; Mark 14:22-26; 1 Corinthians 11:17-34)
Indeed, here are some quotes from the early Church.
*“On the Lord’s own day, assemble in common to break bread and offer thanks; but first confess your sins, so that your sacrifice may be pure. However, no one quarreling with his brother may join your meeting until they are reconciled; your sacrifice must not be defiled. For here we have the saying of the Lord: ‘In every place and time offer me a pure sacrifice; for I am a mighty King, says the Lord; and my name spreads terror among the nations.’” - Didache (70 A.D]
“Our sin will not be small if we eject from the episcopate those who blamelessly and holily have offered its Sacrifices.” - Clement of Rome (Letter to the Corinthians [80 A.D])
“Consider how contrary to the mind of God are the heterodox in regard to the grace of God which has come to us. They have no regard for charity, none for the widow, the orphan, the oppressed, none for the man in prison, the hungry or the thirsty. They abstain from the Eucharist and from prayer, because they do not admit that the Eucharist is the flesh of our Savior Jesus Christ, the flesh which suffered for our sins and which the Father, in His graciousness, raised from the dead.” - Ignatius of Antioch (Letter to the Smyrnaeans [105 A.D])
“I have no taste for the food that perishes nor for the pleasures of this life. I want the Bread of God which is the Flesh of Christ, who was the seed of David; and for drink I desire His Blood which is love that cannot be destroyed.” - Ignatius of Antioch (Letter to the Romans [105 A.D])
“Take care, then who belong to God and to Jesus Christ - they are with the bishop. And those who repent and come to the unity of the Church - they too shall be of God, and will be living according to Jesus Christ. Do not err, my brethren: if anyone follow a schismatic, he will not inherit the Kingdom of God. If any man walk about with strange doctrine, he cannot lie down with the passion. Take care, then, to use one Eucharist, so that whatever you do, you do according to God: for there is one Flesh of our Lord Jesus Christ, and one cup in the union of His Blood; one altar, as there is one bishop with the presbytery and my fellow servants, the deacons.” - Ignatius of Antioch (Letter to the Epistle to the Philadelphians [108 A.D])
“This food we call the Eucharist, of which no one is allowed to partake except one who believes that the things we teach are true, and has received the washing for forgiveness of sins and for rebirth, and who lives as Christ handed down to us. For we do not receive these things as common bread or common drink; but as Jesus Christ our Savior being incarnate by God’s Word took flesh and blood for our salvation, so also we have been taught that the food consecrated by the Word of prayer which comes from him, from which our flesh and blood are nourished by transformation, is the flesh and blood of that incarnate Jesus.” - Justin Martyr (First Apology [155 A.D])
“God has therefore announced in advance that all the sacrifices offered in His name, which Jesus Christ offered, that is, in the Eucharist of the Bread and of the Chalice, which are offered by us Christians in every part of the world, are pleasing to Him.” - Justin Martyr (Dialogue with Trypho[155 A.D])
“[Christ] has declared the cup, a part of creation, to be his own Blood, from which he causes our blood to flow; and the bread, a part of creation, he has established as his own Body, from which he gives increase to our bodies.” - Irenaeus (Against Heresies [189A.D])
“For just as the bread which comes from the earth, having received the invocation of God, is no longer ordinary bread, but the Eucharist, consisting of two realities, earthly and heavenly, so our bodies, having received the Eucharist, are no longer corruptible, because they have the hope of the resurrection.” - Irenaeus (Five Books on the Unmasking and Refutation of the Falsely named Gnosis [180 A.D])
“When, therefore, the mixed cup and the baked bread receives the Word of God and becomes the Eucharist, the body of Christ, and from these the substance of our flesh is increased and supported, how can they say that the flesh is not capable of receiving the gift of God, which is eternal life – flesh which is nourished by the body and blood of the Lord…receiving the Word of God, becomes the Eucharist, which is the body and blood of Christ.” Irenaeus [Against Heresies [189 A.D])*