First and foremost, it's entertainment. Personally I prefer that to the Old School version of Top Gear, where William Woollard did road tests of sensible family hatchbacks, and talked about improvements in the stopping distances of modern cars, useful though that stuff is.
As it happens, I think the current incarnation of Top Gear has more or less run its course and that the BBC should have been thinking about how to re-boot it anyway, even if Jeremy Clarkson hadn't done what he did. If the rumours about the new presenters are true (i.e. Philip Glennister, Guy Martin and Jodie Kidd) it will be interesting to see how it works; I think it needs to be very different, or people will just dismiss it as a shallow imitation of the real thing.
We're going out to the pub tonight, with friends who were at Lancaster Uni with James May, They are still friends with him (he is Godfather to their daughter) so I'll be pumping them for inside information on what's next for him, Clarkson and Hammond, and Andy Wilman - though I've a suspicion that they don't know any more than I do .....