The Bohemian i get your point, but the competitiveness of this division doesn't necessarily mean that the quality is something to behold. English football has changed and here is my take on it.
Premier League - Personally i think that the Premier League has regressed over the last few years. With the exception of the top 4-6 teams in there, the rest struggle to compete with them. Those that get close are almost victims of their own success. The Europa League sides struggle to make the money in the Europa League, but need to invest in bigger and more expensive squads, generally this results in the second season syndrome.
Prior to this you get sides pushing for the top 6 or having a real go in the cups, they have the momentum, play a long season and then within July they're right back into the qualifiers for Europe.
Championship - I remember when Wigan went up in the early noughties and they were a big, physical side, compared to United they dominated in the air, they bullied through midfield and alongside them were Pompey. Nowadays the Championship is filled with failed premiership sides, still big, but rather than being a side of Kevin Davis' they tend to be more athletic and pacey sides. The games i saw on TV last year, the football looked good and perhaps with the exception of the bottom 6-8 sides, its really a competitive division. Thats not to say that theres 16-18 teams able to win the league, but the mid table sides (Wednesday, Leeds etc) are capable of putting a run together and reaching the play offs.
League One - So its a tough division to get out of if you don't bounce straight back, but for sides that put a good strong squad together it looks, from the 5 years we've spent down here that the key things to push on are good strikers. They tend to make the difference. I see many similarities as well to the physical Championship from a decade or more ago.
The thing in League one though is that whilst the top sides tend to have Quality and Physicality, the mid table sides and below tend to have a different attitude. They play to the opposition, rather than to their own strengths.They play as the underdogs and with that spirit. So it looks very competitive, but often its a case of strangling the opposition. Lots of smash and grab results.
You could argue that over a season its no more competitive, because the big spenders tend to fight it out still.
In terms of football and the opposition we've seen though, its a long way off the Championship for quality. I've never called it a pub league myself (i don't think), but it is shit to watch and the sooner we're out of it the better!