It's a fancy song and dance 'talent' show, no harm in that, but like the OP I don't see what the hype is about.
It's rare that a non-English language song makes the charts or gets airtime in the UK, the language barrier means there's naturally not much interest in Eurovision from the UK. Best bit was Wogan poking fun at it all, his successor isn't as good I feel.
It does irritate me that along with a few other countries we have to subsidise the whole thing, not very fair imho.
Interesting point about the technology for the coronation, makes sense. I reckon we are long past the need for this driving our subsidy now, I vote we put it on ITV and pay for it with commercials, preferably with some cutting over the 'songs' ;-) then the licence fee can be reduced a bit! Or a more equitable way might be to use Euromillions funding? Or maybe some product placement, hmm, the future of Eurovision is ripe for change...
We should be able to vote for our own country's song if so desired, just factor the no. of votes according to population size so it's not distorted.
Personally I might vote with my feet!