The Superbowl is a big deal, because it's the championship game of all the teams in the NFL. It's the final boss! End of the game (or season)! If it's not your team, then you're spectating (or not, as so often happens for most who could care less if their team's not in it) a game which should be one of the best of the season. For American Football fans, the Super Bowl rarely disappoints. I don't know many who actually watch any of the pomp and circumstance that goes along with it. I personally prefer Puppy Bowl to the Halftime Show (though I love The Who).
All you need to know is that it's a "thing". A "thing" you may not understand, but nonetheless is important to a group of people who enjoy that "thing." That "thing" could be gaming, cooking, accounting, or extreme macrame, but it's a "thing" that brings enjoyment to the lives of those who seek to behold it.
Sure you have a long list of things that you may think sucks about that "thing," and you may be right about many of those things. However, we who enjoy this "thing," specifically the Super Bowl, put up with the walking around, the inane chatter from broadcasters who desperatley try to think of different ways to say the same thing, Joe Buck, the overly macho presentation, fucking Joe Buck, and the other minutia that does detract (fuck Joe Buck) from the overall experience. We instead prefer to watch the pitched battle between two teams of 11 men who attempt to employ elaborate strategies to gain a split-second advantage over their opponents in hopes of the big play, or at least forward progress.
It's also game about men in tight pants throwing themselves at each other, where one man steadily cups the balls of another, while the man with the cupped balls thrusts a hard oblong ball at his balls where the man is cupping them, large men roll around with one another for a brief time, and sometimes...sometimes...it's good to be the Tight End. And they pat each other on the butt when all goes well.
Football's a lot of things. More than any of them is that it's a game. You like it, or you don't. Or you're a Raiders fan and you're going to riot no matter what happens...