I find the debate fascinating. At its core are fundamental questions about what this sport is about. It's an important debate to be having right now as we're seeing the mainstreaming of MMA.
Predictably, people play the "you're not knowledgeable if you disagree with me" card. Happens in any sport. There is a lot of grey area in MMA. There are, IMO, major flaws in the way winners and losers are determined, but hopefully the sport will continue to grow and improve. Hopefully some growth will come out of this fight.
I have heard more of the "you're a bloodsport fan, I appreciate the sport" criticism lately. Maybe it's a way for new fans to feel superior. I don't know. I do know that I'd rather watch a Barboza/Etim spinning heel kick KO than a Guida/Pettis lay n' pray. I'd rather watch Machida really hurt a seemingly invincible champ, giving it his all before falling to the better man than watch Condit avoid exchanges with a fearless striker, grinding out a win by landing 60 more low kicks while getting beat to the body and head. Yeah, I like the violence. It's a part of the sport. I want to see fights finished. It's more impressive and it says something about the fighter. I think they understood that in the PRIDE days.
For me, MMA is the purest sport in the world. It's overtaken hoops as my first love and that's really saying something. The whole "two men enter, one man leaves" thing. Sorry for quoting Thunderdome

It's a very democratic sport. In fact, Ed Herman's family was watching the fight at the same bar I was at last night. Herman's dad was wearing one of his old walk out shirts. His mom was watching the fight through her hands. It was really something watching Herman's mom watch her boy fight. His dad went to the bathroom immediately after the fight. He was sweating bullets. I love that a guy like Herman can fight on the main card of a UFC event. He's not THAT different from the rest of us. He was an early Team Quest guy. I've trained with guys who have trained pros. I work with a guy who was mentored by Randy Couture. Hell, I sold a nutritional bar to Chael Sonnen at the food co-op I was working at a few years ago. It's another piece of what makes this sport so special. We better enjoy it while it lasts.