I mean, you might personally find it boring, but the large majority of stream viewers find it hype; as do the players and the commentators of high level matches. Watch the summit matches, listen to the players and the commentators. So even if it is “my opinion” it’s the popular opinion.
I mean if you can’t punish skarlet’s, jacqui’s Sonya’s, Cassie’s, johnny’s, kitana’s, scorpion’s, sub zero’s, jax’s, raiden’s, kollector’s, baraka’s, Liu Kang, Kano, Dvorah, Kotal, Kabal, Kung lao, Shao khan, and jade’s fatal blows that’s your problem and you need to level up. Even Johnny gets a full combo punish on the vast majority of fatal blows. With the exception of a few (which I’ve already stated should be toned down) they are a by-and-large balanced mechanic.
I’m not sure what you’re getting at with the last paragraph. You’re describing legitimate counterplay and thought behind it. It would seem your last paragraph contradicts your entire argument. Either they’re too strong and a crutch for bad players, or they’re punishable and have cool unique uses (such as you described). You can’t have it both ways.