Not even going to step into the underlying conversation but...
If all you see when you watch baseball is guys standing around waiting for someone to throw or hit the ball, I would imagine it really is very boring. But if you're watching individual pitches and swings, thinking about the pitcher's and batter's approaches on any given at-bat (even contextually from at-bat to at-bat), and how the fielders are positioning themselves for each batter, how the batter is responding to that, how the baserunners are working the pitcher and catcher, minding the pitcher's command and pitch movement, the pitch count, who's available in relief, how that plays into the batting order or if a double-switch is necessary and if so, who for who (okay, that last one only applies in the NL since the AL dumbed things down with the DH to please the masses). There's also the context of recent performance trends as they play into each at-bat, or even the lineup, as well as head-to-head trends, personal histories (between players and/or teams), injuries, etc. I'll stop there but that's just part of what going on in the times between when the ball is in play. If you're really into the sport, there's a shitload of drama happening a lot of the time.
tl/dr: It's only boring if you don't know or don't care what's going on beyond the action. Pretty much like most sports.
Last night I gave up a chunk of my nightly Dodgers game to watch a movie with my kid. When it was over I switched back to the game and the Dodgers were down 4-3 with two outs and nobody on in the bottom of the 9th, and an 0-2 count. One strike away from a loss. The Dodgers ended up getting a walkoff win without ever putting a ball in play. Five straight walks. And it was so freakin intense the whole time. I was jumping up and down and high-fiving my daughter at the end. And we didn't see a single ball put into play. Boring, my ass.