Short answer: no, Motorsport isn't as good as it could be. Having said that, it is now the only magazine I subscribe to and it stands head and shoulders above the rest of the motorsport related mag. There is always something worthwhile to read in every edition, it is entertaining and for the most part unbiased.
The only other magazine I buy regularly is Octane for the same reasons. I like watches, but don't own anything expensive, and my most used watch is a cheap chronograph from Lidl that I wear to eace meetings so I can time races. between these 2, I get good coverage of what I'm interested in, and having met several of the writers and had informal chats with them, they seem to be interested in what they write about.
Magazines have to appeal to the broadest number of people possible, so as Autosprout has reduced its coverage of club racing and hill climbing, and replaced it with more stuff about F1, I now very really read it, and certainly never buy it.