If you were having a boxing match against a similarly skilled opponent, with a lot of money, reputation at stake, and potentially putting your life at risk.. would you go all out with flurry of punches and hope for the best or box smartly and try to outwit your opponent using whatever advantage you may have (legally of course).
I don't particularly enjoy this sport but I think the fans are being spoiled by the Tyson/Ali era. No doubt it was more exciting/spectacular but many of these people have suffered permanent injuries one way or another. They spent the rest of their remaining lives suffering to walk, hear, talk, or see properly for the sake of the fans' entertainment. :(
I'm not disagreeing that clinching/hugging is boring but that's just part of the game unfortunately.