From a commentary perspective I agree. It drives the political anger quotient off the charts among the masses, but after awhile it loses effect and becomes predictable noise that causes a lot of people to tune out. From a news perspective, though, I like it. Fox is a very valuable watchdog of the left, causing them to face real repercussions if/when they spread disinformation. Same for networks on the left, who keep the right clean with their scrutiny.
As you alluded to, what we are honestly missing from the equation are commentators that are not programmed by the left or the right, and are capable of analyzing the issues from both perspectives without the flaming bias. Of course, the public craves red meat from both sides, not subtle, introspective, genuine discussion.