What do you think is the purpose of a sermon?
Some pastors do create an exegesis. It's very cognitive, intellectual, and without heart. Sometimes heart is included to make it more contemplative. On the other side of the spectrum, we have pastors who make very applicable messages that help us apply our relationships with God to daily life.
I prefer the latter. I see the message as more focused on bonding us with Christ and encouraging our spiritual formation. I prefer to do Bible studies in small groups or individually.
The more ancient tradition of sermons centered the service around the Eucharist (AKA communion). So the sermon was to encourage contemplation and connection with Christ to prepare our hearts and minds to ingesting Christ. Many Protestant churches today, though, just include the cognitive piece without the heart piece. Others include only the heart piece without any grounding in good theory (biblical, psychological, theoretical, theological, or otherwise).
Perhaps there is no right or wrong, but rather what individuals need at a certain point in life and based on their traditions. What say you?