I sort of feel the same way that MMA, well, UFC in particular is kind of a spectacle. I don't mean that the fighting is gaudy or showy or anything, but the way the UFC pitches itself. I agree with many people that Boxing seems more mature somehow, more business oreinted and less, I don't know, less teen angst(ish). Or to put it another way: I sort of get the feeling that the UFC likes the term "Xtreme". Everything with them is hard guitar riffs and some guy screaming in the background about how they are the 'Ultimate!'.
Boxing on the other hand, while still having spectacle aspects to it seems to take itself more seriously. Also the action in the ring is always much cleaner. Now, I know a good deal about MMA, in fact I have a friend who is a grappler/BJJ/kick boxer who competes in cage tournements, and the ground game is not lost to me. I know someone can score points off their back and submissions and chokes and arm bars are all very complicated and cool. The fighters themselves are pretty top notch although I believe that PRIDE has better all around talent. Again I just have a problem with the pitch of UFC itself. Also, and I hate to say it, but I often find myself bored by the ground work of many of these matches. Again, I'm not ignorant of the skill and technique, but I can't help but like what I like. The boxing for the most part in the UFC is okay, no one is particualarly good with their hands, the only one that comes to mind is Rich Franklin.
To sum up: I think if the UFC matured a little bit, grew up just a touch then they might get a larger audience and even find the talent might increase. Of course if they did actually 'grow up' then they might loose their precieved edge and be considered 'soft', which is of course contrary to their whole approach of the 'Ultimate! Xtreme! Action!'. I'm not suggesting they change their rules, just their approach.