It's more fun in the Championship, but the fun is chasing promotion to the top flight. If we didn't have that it would be no better than the Prem.
Once in the Prem however, all we have is a relegation battle. There are around six big clubs, around six clubs who will stay up (prime example: Everton) but achieve nothing and the other 8 will toy with relegation.
Very few clubs break this trend. Leicester being the most recent to do so (maybe the only one) though Wolves had a good season last term.