A lot of the greatest moments on Smackdown did happen over 10 years ago: Austin destroys the DX express, Angle v Lesnar iron man match, Eddie Guerrero's addiction promo, Lesnar/Big Show ring collapse.
I'm sorry to hear fouldsy91 stopped watching after the brand split, most of those moments occured in that time. the Angle, Benoit, Mysterio, Eddie, Chavo, and Edge period while Heyman was booking was incredible, but again, over 10 years ago.
In the last 10 years there was: Eddie's heel run (despite the Dominic stuff), Edge cashing in, Shield v Undertaker, Punk ending Jeff Hardy's WWE career, the creation of the Teddy Long tag team match meme, King Booker, Edge and Vickie's wedding, Christian's run as world champ and one more match. Honestly though, it's like panning for gold in a sewage drainage ditch.
The last five years of so, I read Smackdown spoilers. I watch the matches online that I hear are good. I'll watch the talent I like, the rest I fast forward. I don't think that what we're experiencing has to do with cynicism, an "I miss the Attitude Era" mentatlity, or something to do inherently with Smackdown.
Smackdown has been booked as a Raw rewind ever since the Brand extention was quietly taken out back and shot. Sure, we got highlights before, but now that all stars are on all shows, there's a lot of rematches happening. There have been so many six man tags that I'm utterly speechless as to why a Six Man Tag Team Championship hasn't been introduced with Teddy Long wearing a roman gladiator helmet on the centre of it.
A lot of folks want to blame Vince for the way the product is booker. Considering the things Triple H is doing in NXT, maybe it's just a matter of time before someone realizes that they can book a wrestling show and make money. If you build it, and it isn't filler, they will come, and they have money.