Well, for Ireland I'm glad, but for my sake the it need not exist.
So much money, time and space wasted on it every year.
It does not bring countries together, the voters only vote for the neighbouring countries, the largest countries automatically goes to the next round due to viewers and so on.
I see the point behind it, but I think all that time, energy and money could be used a different and more constructive way for integration.
How would this affect us? Perhaps less cultural awareness about other countries in Europe, a lot of celebrities would never achieve that status due to no competition.