Of course it is.
EVERYTHING on DS9 is interesting, it is interesting all the time.
Oh, except for Kira's Bajoran boyfriends, they were not interesting. They were there for toilet breaks.
Kira/Odo really worked, but Bareil was just a distraction and I think Kira was simply stringing Shakaar along...
I think DS9 mainly focuses on each individual tree in the wood, thus explaining why some people find DS9 to be 'boring' or 'aimless' but this approach pays off in droves when you get the more meatier episodes (The Die is Cast, Way of the Warrior, Apocalypse Rising, By Infernos Light, Call to Arms, and so forth) which sort are the bread and potatoes of DS9. Because then the changes happen impact the characters and you really emphasise for them because a) so much time was spent developing them, and b) some very interesting situations can arise.
Finally DS9 has got balls. We have a terrorist turned officer, the Dominion which almost beat the Federation, a far more shadier Federation what with Sisko's plan to get the Romulans into the Dominion war (plus Section 31), it explored religion, it focused vastly more on alien races, things were never really hunky-dory. DS9 is virtually the opposite of TNG and TOS in so many ways, that's why DS9 has balls.