1. Even at its worst, there's some damn fine wrestling happening in TNA. Whereas the WWE has largely enforced it's own in-ring style, generally characterized by a lot of rest holds and a slower pace (not that there's anything wrong with that), many of TNA's wrestlers bring truly unique styles to the ring which leads to some very exciting and diverse matches. If you haven't seen an AJ Styles match, you're missing out. Similarly, whereas the WWE has heavily scripted promos nowadays, TNA's wrestlers seem more free to experiment with their gimmicks and speak with their own voices. This can be hit and miss (and you might be able to attribute it to the fact that TNA's creative is generally useless), but it is dynamic and is a throwback to the olden days of pro wrestling, where wrestlers were largely responsible for getting themselves over. Additionally, if you're a fan of tag wrestling, TNA is lightyears ahead of the WWE in that regard.
2. The Impact Zone crowd is either ridiculously enthusiastic or depressingly apathetic. When you're taping in front of the same people week after week, I guess that's to be expected. TNA's creative is...well..."hit and miss" is probably a nice way of putting it. Just about every storyline involves a large heel faction, which usually ends up allying with or swallowing yet another heel faction (Triple X within S.E.X, Team Canada within Planet Jarrett, World Elite within the MEM, Fourtune within Immortal, etc). These factions are usually ridiculously bloated and nonsensical (think NWO at it's worst). Still, there's usually a good story or two occurring outside of that framework. And as bad as the writing gets, the characters generally manage to stay entertaining. You might get the sense watching the show that TNA has all the pieces of the puzzle, and that as soon as creative stops eating them they can put together something great.
3. I don't know? Entertainment, if you like it. If not, you lose a few hours that you otherwise would have spent not watching wrestling. TNA is far from a perfect promotion, but it can still be fun. I don't think any wrestling fan can say with a straight face that they enjoyed everything about a given promotion at any given time; even attitude era WWE had it's share of hand-births and necrophilia. With TNA, like any other promotion, you take the good with the bad, and hope that the former becomes more prevalent than the latter. Even if you don't enjoy certain aspects of the show (*cough*creative*cough*), you'll probably find plenty to like if you go into it with an open mind. Also, Velvet Sky's ass.