I usually don't watch necessarily for the host, however, the host or hostess can make a difference as to how entertaining the show is. Yet, this year, I have seen so few (if any) of the movies that are in the running, that I don't know that I will watch it. If I do, Stewart is enough to make me tune in at least for a while.
Oh, and maybe it's a "female" thing,but I do enjoy seeing some of the beautiful (and sometimes outrageus) gowns the ladies are wearing. :p
Johnny Carson use to host the Oscars from time to time, and usually was good at it. Like I mentioned earlier, I don't care for Chris Rock at all, but found he did pretty well when he hosted; Billy Crystal, although not a fan of his movies, really made me laugh when he hosted. All a matter of taste really.
TIS