I agree with you that there's no inherent magic to the monad concept, but there really is something neat about the monad generalization -- it's not just a senseless abstraction. That meme "a monad is just a monoid in the category of endofunctors" has merit here. If you already believe that monoids are a useful enough concept, and also if you believe functors are useful enough, then this is a basic structure that pops out. It's a higher-order one, which makes it that much harder to grasp, which only amplifies any possible disappointment :-)
One place this generalization is useful is in defining other structures, for example traversable functors, which as part of their definition need to commute with every other monad. Sure, you won't be using most monads, but it's easier to define a traversable functor that works for all monads instead of the small subset of computationally useful ones.
The deep part to monads is that they (well, a large class of them, the "finitary" ones) end up classifying Lawvere theories. This means that each monad is secretly encoding some suite of composition laws for operators of arbitrary arity. I'll just give an example with the list monad. If you have a list [1,2,4,2], then you can think of it as being a function, where `map` takes each integer (a "variable") and substitutes it for some value, yielding a list -- so in this way the list is an operator with an input per int. The monad part is that you can compose it with other operators by using `flatMap`. For example, if 1 -> [1], 2 -> [2, 3], and 4 -> [2], then the `flatMap` gives a new "function" [1,2,3,2,2,3] from integers to lists by splicing in other operators (and `wrap` is a way to tell `flatMap` that you want to preserve a particular variable, so to speak). I think this is a way to think about why monads have anything to do with computation -- a value of `m a` where `m` is a monad is a computation with "`a`-shaped holes," and `flatMap` is a way to plug other computations into these holes.
Anyway, that's a lot to say for this, but I'd come across Lawvere theories earlier this year and it gave me a new appreciation for monads after years of just using them while programming. (Disclosure: I'm also a pure mathematician, so I understand if others won't share this appreciation.)