I'm not sure. I think the Jon Stewart era daily show offered something the left of electoral politics is lacking now. It was folksy, common sensical, not too serious. like trump. Dems don't do enough to soothe their technocratic edge. Watching Daily Show in middle school was my introduction into politics, i.e. a very stupid person could engage. And the content wasn't all that different from the format you see from right wing media online- politician does something, show some other thing that makes said politician out to be a hypocrite, rinse repeat. very effective.
I don't think I would enjoy it now, for all the reasons already mentioned, but not everyone can be as cool and smart as I. I think it served a purpose, and I'm not sure the show could serve that same purpose if it wasn't a little nauseating.
And I don't really buy the line that its the smugness of Jon Stewart style satirists that is the problem. Its the smugness off the NYTs, CNNs, SNL, and standard hollywood celebs. The line that its jon stewarts fault feels like posturing, in fighting. my generation went to college, learned Obama was actually a bad guy and now its a race to see who can disavow the most beloved libs as bitingly as possible.