You know, everything you said could've been said about Battlestar Galactica and that ended almost a decade ago ...
VFX is not enough. At least not for TV.
But if you look back at shows like BSG or Firefly, they certainly weren't any better in terms of acting - I think we just have higher standards these days!
(By the way, if you didn't enjoy Season 1 (I did!), then you won't like Season 2 any better.)
But not really everything applies. BSG - which I absolutely love - wasn't based on a series of good books, wasn't hard sci-fi, and didn't have a VFX team doing their best to stick to real physics.