I've said before that i think the problem is that this is a B grade show trying to hard to be like an A grade show like the breaking bads and wires of the world. And it's had so much promise especially in the 1st season that it looked like they might pull it off.
But i think the big problem is that the makers off the show don't realise why people liked the show in the first place. They think it's the characters, but it was the setting that did it. People fantasized about what they would do if they woke up from a coma in that world, would they trust others. Would they try build a new life and settlement, how would they get food, how they would react ro threats and the zombies. There were cool parts like when the governor crashed a truck full of zombies into the compound or when Rick used zombie guts to walk amongst the dead. But after season 3 all that dried up and they tried to Hard to make it a character driven show. Except there's literally no interesting characters. Think of other great shows with great characters. Tyrion Lannister overcomes prejudice and people under estimatinh him by being incredibly intelligent, plus he has a kind heart in a cruel world and is good for a one liner. Walter White is a mild mannered guy who has been kicked down his whole life, but the further he gets into the drug world the power changes him and he becomes dark and evil. Then you have The walking Deads greatest character Darryl, who is great because..... um he has a crossbow?