You named two shows that I really love - Seinfeld and Friends. I do not watch either of those in order for myself to either 1) seem less petty, or 2)as a compromise instead of making real friends. I watch those shows because they are funny and they are entertaining. That's the point of TV. I would definitely say that TV is the least artistic of the various mediums of entertainment available to us, but I'd definitely say that there's a point to it.
Apart from entertainment, it is by far the most useful source for learning about current news and/or events (depending on what news network you watch, of course). Things like the History and Discovery channels have some of the most interesting programming on television and have taught me countless things that I probably wouldn't have learned otherwise. Likewise, the Comedy Network (I live in Canada, so I don't have Comedy Central) has The Simpsons, South Park, The Daily Show, and The Colbert Report, the only 4 shows that I have been consistently watching for years, and I would murder anyone who would try and take those away from me.