Having the semis at Wembley has devalued it a lot. It also doesn't help that in the past 25 years, only eight different clubs have won it: Arsenal, Liverpool, Chelsea, Man Utd, Man City, Everton, Portsmouth and Wigan. It has increasingly become a tournament without much in the way of competitiveness. Compare that to the previous quarter century, which had a much more diverse pool of winners: WBA, Man City, Chelsea, Arsenal, Man Utd, Southampton, Spurs, Wimbledon, Liverpool, Everton, Leeds, Sunderland, West Ham, Ipswich, Coventry. The romance of the FA Cup is all marketing for the 3rd round. If a smaller club does get to the final, they are invariably beaten by a bigger side most of the time