Well, considering how long it lasted, I'd say Nick's doing something right with the show. Is it as great as when I was little, as in, the early 2000s? No. Is it good when you consider that they have different writers now, is trying to please the new generation, and is one of the few cartoons that Nick has left that it actively pays attention to? Sure. Spongebob is Spongebob, even if the show is a bit different now then the majority of us were introduced to initially. All I can say in the show's defense, is that it's not trying to make episodes for the teens and adults that first watched the show, it's making episodes for the kids who are the age now that we were when we first watched the show. The only complaint I have is directed toward Nickelodeon itself, if it even uses that name anymore, but that's for an entirely new topic.
In the end, Spongebob isn't as bad as people think it is. I watch both the old and the new episodes, and while I think the old ones are better because its jokes had a more subtle charm that I didn't appreciate when I was little, the new episodes have a sense of humor that appeals more towards the new generation of kids. In which case I say, hey, at least it's better than Fanboy and Chum Chum.