It adds to the realism. Do you really expect people to beat each other up and not bleed?Question - what exactly do you get out of watching other people bleed?
I'm certainly not for the return of blading because of the obvious health reasons. But when someone gets a small cut on their head, show it on TV and stop trying to edit it out. They may have taken a step in the right direction during Smackdown 2 weeks ago when they showed Sheamus split open from Del Rio's attack. And then they replayed it.