It is a nasty show, so that can't be understated.
But I still find myself watching it. Two more episodes to go.
I think the major draw for me is Antony Starr as Homelander. What a piece of work. The reactions of his mouth alone are enough to keep your attention. Whether it's a nasty smirk while he's sweet talking someone, or pouting under Elizabeth Shue's breasts while engaging in one of his Oedipus episodes, he's just really the best villain I think I've ever seen on a TV show.
Interesting factoid about this show - one of the showrunners is Eric Kripke, who created and wrote Timeless, one of the most innocent little TV series you'll ever find (and also very good).
You'll also notice a few actors popping up in this series that were in that one.