I love love love how every generation loves their own version of SNL above all others. Hey, I'm with you, this is when I started watching too. Tim Meadows is still my favorite.
As such, I keenly remember hearing all about how lame these people were. How Mike Myers, Adam Sandler, and Chris Farley were so much better. How stupid and repetitive the cheerleaders were. How no one liked Magno or Mary Katherine Gallagher. How everyone missed Wayne's World. And so on and so forth.
The only constant about SNL is that everyone starts watching when they're 12 or 13, loves it for 5 years, hates the next 5 years, and then starts watching again and admits that "it's gotten better than the last few years, but still not as good as when I was in high school."
Is there an American alive that can't be described in that way?
I'd say you're almost right. But I actually think that the current stuff is better and far more consistent than the show has ever been during my lifetime. (Except for their political humor. That's not nearly as sharp as it used to be. But then, no one has been able to find anything funny about Obama yet. I mean, geez! He's the most unfunny president since Eisenhower!)