I asked a similar question on the forum five years ago, for this version's 20th anniversary, and my thoughts are the same:
When I first got into the fandom, I read that the Davidson version was not received well at all. I read about the many changes to the set, the game rules, the music, and Doug wasn't a good fit for the show. The only information I had were secondhand remarks from those who watched the show back in the 1990s, and any RealPlayer clips on site's like tpir.tv. I let those opinions shape my perceptions of the show.
After watching several episodes on YouTube over the years, I have since discovered that I like it for what it is, not what I thought it should have been when I first discovered it (a carbon copy of the daytime show). The set and music fit the primetime atmosphere well, and it was an attempt to bring the show into the 1990s. Sure, that modernization aspect failed to click with fans (and potentially viewers) at the time, but it provided a basis for the daytime show as it implemented set and music changes over the next several years.
The syndicated version's showcase skits were better than the daytime show's. Having Jay Wolpert back on board, and with only one showcase, meant that creativity and zany skits could shine once again. Those were largely gone by the time Dian left at the end of Season 21, so having that great aspect of the show return was praiseworthy, in my opinion.
As for Doug, I think he tried too hard to be funny and enthusiastic at first. But when I watched episodes towards the end of the run in 1995, he did mellow down and moved the show along well. Also, he found new ways to interact with the contestants, and played on their traits, without relying on routines. So his improvisational abilities should be lauded. Also, as Chelsea said, Doug had energy and enthusiasm right out of the gate, which was what The Price is Right needs in its host.
Some of the rule changes were good compromises to suit the time constraints and big-money feel of this version, like giving the first digit free in 3 Strikes, and having small prizes in Grand Game and Hole in One instead of grocery items. However, Plinko was botched with its different slot layouts ($2,500 on the edges of the board instead of bordering the two zero slots, and a layout with a three zero slots, including one in the center, but with two $5,000 slots where the zero slots normally went), and changing the unique first-or-last digit game into a higher/lower one. Also, Clock Game was botched with no actual set and having four-digit prizes to bid on (though they did spot the contestant with a $1,000 range to accommodate such prizes).
The Price Was Right was an interesting twist on eliminating two contestants, and the Range Game showcase round provided a new level of gameplay from the daytime show's Showcase round and Showcase Showdown, respectively (though the Big Wheel was brought out on occasion because there weren't enough clips to play The Price Was Right for every show).
Overall, this show had potential and I think improvements would have been made over time if it found an audience and gained momentum. Perhaps Contestants Row might've returned, or The Price Was Right would have been scrapped completely in favor of the Showcase Showdown. Both elements are strongly associated with the show and serve as a hook for viewers to know that they're watching The Price is Right, and they would have warmed up to this version. Also, Doug would have continued his improvement as a host.
I do enjoy seeing new episodes come on YouTube to find out what new ideas they tried and how Doug interacted with the contestants. For a quick 20-30 minutes of pricing games and excitement, this version works very well.