I used to love U2, their old stuff is just raw irish rock and I love it. They'd also changed their sound dramatically several times and amazingly it was always great, even their electronic Pop album. They also had a really cool attitude, they were Rage Against the Machine of the time (not musically). So, U2 was one of the best bands in the world for me.
Now, it's a crappy pop band, they aren't that much into music and it definitely shows. They come up with some tired, bland songs and everybody loves it for some reason.
As for Bono, he completely sold out. The politicians he used to rebel against are now his buddies. All of a sudden Bush is great and Putin is my buddy. As far as music, I don't even consider him a musician anymore.