Personally, Studios is my 2nd-3rd favorite WDW park. Yes, it's in an awful state with a lot closed, 30-year-old entertainment, and thematic messes, but I fully enjoy and do the main five rides every time we go, and hit at least 1-2 of the major shows, that while dated, are still fun. Compared to Epcot, where I do my Test Track/Soarin' fastpass, Spaceship Earth, maybe Mission Space, then get bored.
That said, it's still in major need of an overhaul. While 5 D/E-tickets that I enjoy is a good number, MK has nearly 10, plus a bunch of B/C-tickets on the side. And most of the areas besides Hollywood Boulevard and Sunset Boulevard aren't that cohesively themed. Star Wars Land, Toy Story Land, Phase 3, and some of the smaller updates throughout the park will definately solidify this park as my second favorite one in WDW, if not tied with MK for first.