It's a good point that you make about Matt Mahaffey's lyrics. While there are some introspective songs ('Lost My Senses,' 'Life Could Be Swell,' 'What Are You Thinking?' and 'Waiting' are a few that come to mind), he mostly does write very cynical, highbrow, pop culture-based, third person type lyrics. But I think that's where his heart lies, and I think that he does get off on writing/performing those kinds of songs. It really is just personal preference - some people like that kind of thing, some don't.
I can totally understand that you didn't care for the 328 show in October. While I won't say that I flat-out didn't enjoy it, I was surely disappointed. And not because the songs were no good, or the performance was no good, they were, it's just very challenging to listen to 1 hour plus of music that you've never heard before, that you don't know. To know that a band that you rarely get to see anymore has so much music that you know and love, but not to hear any of it...is just frustating.
Relevant: Prince, PT Anderson, Punk, Post-Punk, Purple, Party of Five, Peter Swanson, Peter Gabriel-led Genesis, "Peter Panic", Paul's Boutique, Potential Energy, Every Features MB member but me.