MotoGP is having an exciting season because the previously dominated rider has been out for most of this season. This highlights the skill of the rider compared to engineering for MotoGP.
There also seems to be a psychological thing happening, where riders are in general less consistent then previous seasons. There’s a lot of emotional toll happening to the riders.
Furthermore, lots of tech built in MotoGP sees itself trickle down consumer level motorcycles. There is a lot of competition going on in 400-1000cc sport/naked bikes for consumers leading to some really great bikes.