After seeing a number of people mentioning their disappointment with the old SCTV episodes, I think part of the problem is what's been released so far.
The box sets, except for a tiny "Best of" collection, consist of the NBC years. To me, that was it's most uneven and lacking period. The move from 30 to 90 minutes was detrimental to the show. Material from the 30 minute seasons was usually sharp, focused, and eclectic. While some of the sketches were misfires, they usually didn't last that long, and soon it was off to another topic.
Once they hit NBC, gags were stretched out long past their shelf life. We started to see the same characters over and over in sketches that went nowhere, becoming tedious time-fillers. What was once a well-written and snappy show became a bloated shadow of itself, with only occasional flashes of what it had once been.
If they were ever to release the first season episodes, and more of the second season, I think you might have a different perspective.
I don't know if we'll ever see those though. With last year's best of compilation (which excluded most of the best stuff), I doubt they'll be released anytime soon.
But, if they ever are, take another look. You may just find what you were looking for.