He's the funniest daily comedy show on television, and certainly better than the late-night shows. Nearly every sentence is a joke. He's got a great team of writers.
He's much funnier than Jon Stewart, who consistently breaks character and laughs at his own jokes, which ruins it for me. There's actually very little satire on The Daily Show, just a guy pointing out silly things and laughing at them. The Colbert Report is drenched in satire, irony, and sarcasm. It is generally only the twinkle in his eye that lets you know he's in on the joke. His ability to conduct interviews in character is impressive, especially since he makes his political points using satire, on the fly, against straight-man interviewees. Again, Jon Stewart just points out stuff that is silly, and yells a lot. Stewart is entertaining when he pwns people in person, but not funny in those contexts, just exciting.
That said, some people simply do NOT respond to satire in any form, and I guess the OP is one of them. I'd expect he doesn't like "The Office" or "Monty Python," either. OP's loss. He can watch his "Ernest goes to camp" DVD's and enjoy himself.