You are not alone in your thoughts. In fact, this is a constant squabble at THEIR fan site AeroForceOne.com. Many, many feel as you do, that Tyler made a huge mistake for himself, the band AND for rock and roll in general by appearing on AI.
However, there is a school of thought that feels that ST has paid his dues and thus should be free to pursue his own interests and desires and should not have to be burdened with only entertaining all of us or with being the savior for all of rock and roll in 2011. Moreover they say, he is exposing millions of younger people to Aerosmith by being on the show.
But, there are many 1970s fans unhappy. Aerosmith is right now in studio working on new music with 70s Producer Jack Douglas. A riff of a song can be accessed on their home page if interested. Old timers are hopeful.
On your other point, most of the women there that I have read seem to wish an open face sammich consisting of Steven Tyler alone! But bone him (or them all) still seems to be a major pursuit of many!
Sometimes I get the feeling that I am the only one there that doesn't want to have sex with anyone in the band. Go for it ScarlettStar!!