There's nothing wrong with enjoying a spotfest. It's like one of those movies we know they're stupid, but we still watch them and laugh. The most recent spotfest I enjoyed was the SOTF match. Bad match in terms of star rating (*1/4), but it was still one enjoyable, mindless action.
Spotfests are your typical action movies. All explosions, car chases and shoot-outs. They waste no time building up characters and jump right into the action. They are very easy to enjoy even if they don't have a deep and complex storyline with well-established characters. However, if every movie was a 'no-brain needed' action movie, I wouldn't watch many movies. I love some movies for the little things in them and wrestling is the same for me. The Kawada/Taue versus Misawa/Kobashi 9/6/1995 tag match is a match filled to the brim with little psychological factors and that's what makes it so great, but if all matches were like this, I'm sure I wouldn't watch that much because it's a match you need a brain to enjoy.
Spotfests are just another 'genre' of matches in the wacky world of wrestling.
Just watch Steen/Generico from Steen Wolf and I have to say it was one of the best matches of the year. Pure hatred and it was just insanely violent. It's really close to the top of my list from last year.