The UFC is the only way martial artists can compete full contact with other skilled fighters in an organised tournament. In my opinion I see nothing wrong with it and I can understand some people may view it as barbaric but it isn't. If you don't like it, don't watch it.
The reason these guys take part is so they can get the opportunity to prove to themselves if their fighting skills are good enough. Where else could they do this?
I've never seen the show but I will certainly tune in to see what all the fuss is about. I'm guessing that my expectancy will be shattered after watching it and it probably won't live up to the hype