I don't really watch TV but from what I've seen of it, it seems alright.

I remember a quote from I don't know where about the show that said "This is the smartest show on television" in the snobbish tone of voice that Frasier and Niles have.

I guess it's just a particular type of humour that appeals to some and doesn't appeal to others. Unlike Family Guy, for instance, it isn't just absurd and pop culture humour that's easy to "get" without really following the show and getting to know characters and whatnot.