While I do miss some of the good music they used to play, I never really watched it much when it had it, and I love Teen Mom, Awkward, Buckwild, Catfish, Jersey Shore, and Snooki and Jwoww. So I actually watch it a lot more now than I did in the past.
It doesn't really affect me much since I don't have cable tv. But I remember watching MTV in the old days at friends' houses and I loved it. I'm pretty sure I wouldn't like it now if it has stuff like the Jersey Shore.
I loved MTV in the 80's and early 90's when I was a kid... but do I miss it? I doubt I would watch most of it now. I would watch the Headbangers Ball. The rest of it, I already have: Beavis & Butthead, the Maxx, Aeon Flux.