Mr Nowack, that thing with the dragon was exactly what bothered me: why put it there if it doesn't do anything for the story? Even the clock itself didn't do anything after the ouverture, as far as I recall, but I might be wrong on that. overall the set just seemed a bit like a circus extravaganza to me for the solid parts that did not connect with the show, while the different scene settings were, well, rather blunt (think the school blackboard scene vs the same in Matilda). But tastes are different and the set was just one point in my list...
But to all the Wicked lovers: I think it's great for any show to have a great fan base that will keep the theatre scene going with fresh audience. So that's 10 points for Wicked. I see the show's merits, but think some strong points applied to it are not solely made by the show as it is itself - e.g. the plot, which central elements you've described as understandably likable, to me isn't as strongly conveyed through the show as it is even in your posts. It's propably like that in the original novel (which I don't know), but the show's story seems very straightforward.
But: nothing bad in having commercial successes and enthusiastic fans, though. Everybody has a guilty pleasure show. I have, too, and I'd fight it tooth and nails, though over time I saw its (obvious) flaws and got to enjoy and appreciate "better" shows with gusto. i would still see "my" show at every new chance and would always enjoy it one way or the other. but discovering there was more to theatre was great, too!