You paint with a wide brush, inazsully. Currently heavy weight boxing isn't exciting at all. That has more to do with who is at the top than anything else, and of course, that there really aren't any new heavy weights coming up that are bringing excitement.
But the lighter weight classes are showing great signs of life. Excellent matches have been shown recently on ESPN2, HBO and Showtime. And some really good amateur boxing matches on VS are also available. But will they all be exciting and excellent? NO! Not for boxing or UFC for that matter.
Just like every other sport out there, some games/matches are great, some are just so-so and some suck badly.
Boxing to many of us is still a desirable product, just not at the heavy weight level right now. Sooner or later, another phenom will show up in that weight class.