And the increased staff rotations, with advances in the science of recoup/recovery definitely favor pitchers over hitters.
no roids, no greenies (amphetamines), and infield shifts have hurt the hitters. combined with the fact that most middle relievers are throwing 95+ these days, you've got a dearth of offense.
the pace of the game doesn't help its appeal. you have batters constantly stepping out of the box, pitchers stepping off the rubber, throwing to first base too many times with a runner on, innumerable catcher-pitcher conferences on the mound, visits from the pitching coach, five or six pitching changes in a game, instant replay reviews, etc. this is why games are 3+ hours long.