The Ferengi episodes were just a symptom of their TNG origins. They were supposed to be a new bad-ass race, but instead they just ended up being (as an early reviewer of TNG once put it) "angry gerbils".
Now, they could be funny on DS9, but mainly when they were playing off another character like Odo or Sisko, but pure Ferengi episodes are just skin-crawlingly awful. It was like when they tried to spin off the The Furleys from Three's Company, or even when Family Matters became The Urkel Show. As is pointed out in the Dennis Miller quote above, it's very hard to pin down exactly what makes something funny, but I'll wager a real nickel right here and now that one of the most important things is knowing when to pull back. The Ferengi-centric episodes are the exact opposite of that rule.
Now, they could be funny on DS9, but mainly when they were playing off another character like Odo or Sisko, but pure Ferengi episodes are just skin-crawlingly awful. It was like when they tried to spin off the The Furleys from Three's Company, or even when Family Matters became The Urkel Show. As is pointed out in the Dennis Miller quote above, it's very hard to pin down exactly what makes something funny, but I'll wager a real nickel right here and now that one of the most important things is knowing when to pull back. The Ferengi-centric episodes are the exact opposite of that rule.