Yes.
Haven't played EU4 for over a year, and even that experience hasn't gone beyond 1.14.4. But I do follow EU4 development. Watched the Third Rome closely, failed to find anything of interest for a player of my caliber. A huge theme was basically wasted. Now this.
Patches? Do tell me, what good stuff has been added in between? Maybe just Ages (haven't played, so cannot tell for sure), disinheritance and monarch/leader traits.
Just my 2 cents from an (effectively) outsider.
That's incredibly unfair.
Are all their mechanics well thought out? No
Did everything they introduce work at start? No
Do I agree with all of their design choices? Hahahahaha, no
But to say there's nothing of interest is pushing it way too far.
Age mechanisms do add interesting minigames and you get to chose your own order which isn't set in stone for every nation or situation.
Comparing Institutions to Westernization is like comparing Skyrim to Minesweeper.
Iqta policies and reworked piety events allow for a much more flexible playstyle when leading muslim nations.
And much, much more.
I'm probably the last one to say the game is in a good state right now. 1.18 relics are everywhere and are, together with Mandate of Heaven leftovers, ruining player's experiences even if most can't put their finger on it.
But to blatantly throw out that there hasn't been a single interesting development is disingenuous, especially since you yourself have pointed out you've never even played beyond 1.14, but have followed patchnotes.
Cradle of Civilization alone had me interested in its mechanics for a full campaign, which is ~12 hours, and the whole region being reworked made playing the area interesting for another 20 hours with ease.
That's 32 hours of exploring and re-learning. Absolutely worth the price.