I'm guessing that you're not in the demographic for which the chain is intended to appeal -- under 30, high school recruit, etc.

One of the things that I like about college football is the creation of interesting traditions, and they don't all need to be 50-year old traditions.

See "Enter Sandman" or "Jump Around" as great recent examples. The turnover chain isn't at that level, but it adds another unique aspect to the game. I do agree, however, that the hype around the chain (perpetuated by ESPN and others) could become nauseating.