Yeah, I've been following it pretty closely.
Yeah, the big three are dominating, but I don't find that particularly boring. Dovi is still there, but kinda hindered by not being on a factory bike. Although rumor has it, he has been paying for bits out of his own pocket now and seems to be improving.
The fringe riders are still on the fringe... And while they seem to be better, they still can't match it with the top of the pack. Crutchlow, Spies, Hayden, etc always fill in around their usual places. Bautista is a bit stronger this year now that he's on a honda (he got simoncelli's ride) and not his busto suzuki.
Rossi is so far off the (his traditional) pace it's sad. He's hanging on by a thread. Rumors are still flying that he is going to get a spot with honda or yamaha next year... Stoner's retirement is actually creating lots of rumor around who is going where.
Dovi desperately wants back on a factory bike. It could be a the expense of Spies imo. Rossi desperately wants to change teams because the ducati just isn't working for him.
So, I guess it's a bit WWE atm.

The racing itself might not be super close at the front, but the subplots are interesting.
i.e. Last round Spies and Dovi fighting for 3rd the whole way is probably also a fight to see who gets a factory ride with yamaha next year.
Oh, the CRT bikes are a joke.