I too watch a lot less anime than I used to...a lot of my time nowadays is taken up by WOW. But lately I find myself getting back into it. It's like my interest ebbs and flows. There are so many anime out there that I want to watch yet it's like fighting an uphill battle. I don't see individual clips to a certain song when I watch an anime though, rather, I take the whole series or movie, whatever medium it may be in, as a whole. Once you understand the concepts and ideas in an anime you can actually get a better feel of how the moods in that specific anime work. Once you understand that, making the AMV is easier unless your overall aim is randomness or OMGWTFDBZGT!INTENSE(if that's a word). I could be wrong of course.
I don't think AMV creation in and of itself has ruined anime, I think it's a combination of life, maturity(I just don't look at AzuDaioh the same way I used to), and expectation. Eventually, becoming old enough, you are going to have a job where you work hard at making money and you just might not want to drop half your paycheck on that next volume of (input: Generic Action Anime Based Around Blond Haired Fighter Adolescents With Super Powers Whos Voice Actors Are Going Through Puberty).
Then, on top of that, as I grow older I find that my tastes are becoming more sophisticated. I demand more out of a storyline than "Let's go beat up the badguys and nearly get our collective asses kicked in the process!" Not that that's a bad thing but you need more to the story. Take Full Metal Alchemist for example, here is an anime that has a healthy helping of action where there is comedy but the characters are a bit more mature and creators don't hold anything back as far as really bad stuff that happens that breaks your heart.
It's elements like that that make an anime interesting to me, I hate it when storylines are sugar-coated for the viewer. Good voice acting is also key to my ability to watch an anime.
Eventually you will see anime that you love so much and that impressed you more than any other that no other anime can live up to it...it's downhill from there. Your expectations are constantly bumped up a notch higher when you watch really good anime that it seems to hit a peak...then most anime seem really plain and boring after that. I mean come on, if you could say...blow up existence, would anything ever be exciting to you again? You can blow up existence! So what if I just blew up a tree stump. To sum it up, you can have an anime in your mind that is the Big Bang, the rest are just firecrackers. After coming up against dissappointment after dissappointment eventually you just aren't going to want to try anymore.
I like to think that creative people are bored with everyday life because the fantasies they come up with are much more colorful and vivid than anything that could ever take place in reality. As an editor of AMV's, regardless of my talent, I can tell you that I can only make an AMV out of an anime I truly like. I'm emotionally involved with what I try to do as creator and part of that requires that I truly need to love and understand the anime I'm cutting up. I can't just coldly edit an AMV from an anime that I've never seen before, it just doesn't feel the same.