You answered your own question:
I've watched so many X divison matches lately and they were nothing more than complete spotfests that's only purpose is the make crowd excited for the show.
They're exciting. WCW used the same strategy and it worked. Guys like Rey Mysterio, Eddie Guerrero, Chris Jericho, etc came from the Cruiserweight division in WCW. They were the workhorses of the company that were the trapeze act that the fans were excited to see.
Moving on, title pictures usually culminate in one on one matches, meaning that two people are involved with the title. How is saying "the same 6 guys" a bad thing? It's been the same 6 guys during Suicide's title reign. Before that, Shelley and Sabin and Lethal and Creed were all involved in the tag team division. Before Suicide's reign, who took the strap from Shelley, so before Shelley and Sabin ventured back into the X division, the champions were Eric Young, Petey Williams, Lethal (long ago with his Sonjay Dutt feud), and Johnny Devine (during the 3D vs X division storyline). So yes, given the ex-current storyline, it was the same 5 people. But now Homicide has the title, and looks to challenge Samoa Joe. Better?
Being from a video game is a terrible point and always has been. He got over with the fans and his storyline went well, especially when Daniels came back.
As far as being in the main event, I disagree, because the TNA title should be in the main event (duh). It's a great opening match, as mentioned, because it gets the audience involved early and sets the tone.
This is where I think WWE's reputation has hurt the way we should look at TNA. In WWE, the WWE and WHC title's are the A-titles, and the US and IC are the B-titles. That's fully recognized, even by WWE and it shows in their superstars. There's a hierarchy. TNA takes a different approach. It's kinda like "X-Division 4 Life" if you will. It's not a bad thing, and the guys who are in it treat it like it's the pinnacle of their career, as they should. They value it, much like the IC title used to be, when Shawn Michaels (as interviewed in his DVDs) said that all he ever wanted was to be the IC champion when he was younger. Once he got it, he shifted gears, but he never thought he'd be more than that, and he was okay with it because the title meant something. AJ Styles transcended the barrier (like Jericho, Eddie, Rey...) to go past their respective "division". That's the other thing, it's a division. The Featherweight champion of the world isn't like "one day I'll be Heavyweight Champion". It's just illogical, unless we think of it like WWE, where everyone is clustered into one division challenging for whatever they want at any time.
What makes it special is that it's fast paced and exciting and something we haven't seen in a long time. WWE always favored big guys over the cruiserweights, and ended up getting rid of the Cruiserweight title, leaving Jimmy Wang Yang (who was somehow over) and Chavo Guerrero and others with absolutely nothing to do. Do you really think Evan Bourne is going to be anything more than a one or two time US/IC champ, titles which have virtually 0 prestige anymore? He'd be a staple in the X-Division, and that's where he belongs. I'm tired of seeing "underdog" bullshit from Rey over Mark Henry (and recently Bourne over Mark Henry). If the X guys break out of that into the main event picture, then great, but it's a different division entirely and the guys in it know that and treat it as such. The structure of WWE in regards to titles is coming over into TNA, and it has no business being there. Each title has a life of its own, and that's how it should be (and always has been until recently in the WWE).
Last thing: What is actually wrong with a spotfest? They're usually much more high risk and dangerous matches and take an incredible amount of guts and skill to pull off for the most part. People have always said "it's a big spotfest" or "I know it's a spotfest but...", but I'm curious as to why that's a bad thing? I think the job of the X-division and the cruiserweights of history weren't to put on a believable competition necessarily, but to wow the audience with acrobat type stuff, kinda like the trapeze swingers in a circus (since wrestling is just a circus type deal, it's an appropriate analogy). Theoretically, isn't all of wrestling a spotfest? There aren't many shoot matches anymore...