It's a sketch comedy show, so I think it's somewhat unfair to judge an entire episode or season. There's always going to be a mix of funny, meh, and godawful. The show has almost always been like that. It's darkest days were '93-'98 or so, IMO. That said, I haven't tried to regularly watch the show in about 6 years. I just seek out the skits that get a lot of buzz online after they air.
'94-'95 season gotta be the WOAT cast/season. All the vets obviously had their sights set on getting off SNL and stopped being funny and the new people just weren't any good.