Sam, really, SNL has ALWAYS been like this. You always have to wade through stupid skits to get to any good ones. Only 20-30% of the show is any good on a GOOD NIGHT/SEASON.
I loved SNL from about '90-'00 or roughly my 20s. This, to me, was the classic lineup; Spade, Farley, Sandler, MacDonald... But even then, it was rare to ever laugh past the halfway mark of Weekend Update. I'm sure even the cast joked about the final 45 minutes of every show being largely filler.
A good season might produce a half dozen or so skits that were memorable.