My personal belief is that fanservice is simply a tool to appeal to a demographic. I bare it no ill will and thinks so long as it draws that demographic it is doing it's job.

Though personally, I tend to be oblivious to it unless it is so blatantly obvious it may as well be slapping me in the face. And if that happens I generally am put off by it. I'm not particularly interested in looking up or down the various outfits of fictional characters, this is doubly so if they are animated.