Two examples: I went back to a couple races last year, Qatar and Estoril (I'll go through more tomorrow). Comparing the halfway point in the race to the finish:
Qatar
Ped - Sto - Lor - Sic - Dov - Ros - Spi - Edw - Bar - AoH - Hay - Cru - Abr - Eli
Sto - Lor - Ped - Dov - Sic - Spi - Ros - Edw - Hay - AoH - Cru - Bar - Abr
Estoril
Lor - Ped - Sto - Ros - Dov - Edw - Cru - AoH - Hay - RdP - Eli - Cap - Bau
Ped - Lor - Sto - Dov - Ros - Edw - AoH - Cru - Hay - RdP - Eli - Cap - Bau
Not a lot of changes in the last half of the races. It's quite rare that someone pulls a Lorenzo at Assen to cut through the field. And the only reason he did so was because he got punted to the back and was just faster than those ahead of him. If he hadn't gotten punted, he probably would have ended up near the front with very few position changes because he and his bike were better than most of the field, but about equal to the leaders.
I still love watching the racing, but I can't agree that it's exciting. For the first few laps, yeah, but by about halfway through they are usually settled into a position pretty close to where they'll finish. Rarely does anyone move up significantly as much as someone drops back. I think control engines would make for more exciting racing, but then of course it wouldn't be prototype bikes, and we can't have that.