While the tour has been relatively weak since 2008 after the old guard of Henin, Hingis, Davenport, Capriati, and Mauresmo all retired (at least from singles) while Venus diminished with Sjogren's syndrome and Clijsters returned to play only part-time leaving only ATGs in Serena and Sharapova, Swiatek is undoubtedly the most dominant player since Serena retired. While Iga shares the same number of slams as Osaka, she is far more consistent in results than Osaka and Iga is 4 years younger. I don't know why Graf is the measuring stick because she has a strong argument as GOAT. You're basically saying because Iga is not GOAT material, Iga is not very good. If that's the case, the only good players in the Open Era are Evert, Navratilova, Graf, and Serena (and maybe Seles). That's a nonstarter of an argument. Raducanu is not a good example either. She has basically been continuously injured since shortly after her US Open win. We know injury can derail a career. Just look at Murray and Thiem, who have been shadows of themselves for years. Maybe Raducanu would have still not amounted to much, but we can't know for sure.
Every great player has poor losses. Nadal lost to Steve Darcis in the first round of Wimbledon and to Lucas Rosol and Dustin Brown, both in the 2nd round of Wimbledon. Ostapenko has had a better career than all of those three. Who has Iga beaten when they played fantastic? If you weren't biased against her, the answers come to mind easily. Just looking at last year, Swiatek beat new #1 Sabalenka on Iga's way to winning the year-end-championship, Swiatek beat a red-hot Garcia in Beijing, Swiatek beat a strong Muchova twice, once to win Roland Garros and once at Montreal.
While I love watching Alcaraz and Sinner play, I know they are going to win 95% of their matches when playing someone outside of the top 5, which is not conducive to much excitement. The winners in women's tennis are not preordained and so that level of uncertainty helps. I also like the stories on the women's side better. Can Osaka return to her old form? What's going on with Jabeur's slump? Will Andreeva break through to the top? Can Sabalenka, Rybakina, or Gauff take the top spot away from Iga? I think those latter four are pretty competitive against one another except for the lopsided Swiatek-Gauff matchup. And while the tour is weaker at the top than in the past, the tour has more depth than in the past: #10 Ostapenko, #11 Kasatkina, #12 Muchova, #17 Svitolina, #20 Navarro, #21 Krejcikova, #27 Garcia, #30 Boulter, #32 Azarenka, #35 Fernandez, #38 Andreeva, #42 Siniakova, #53 Collins, #67 Stearns, #72 Townsend, #80 Badosa. There are a lot more names to follow, and at least for me, I tend to find those names more interesting than similar top 100 names on the men's side.
I've also complained about how the WTA has been weaker for a long time, but Swiatek is not a weak #1. Her career win percentage is 81.6% at age 22 when she may not even be at her physical or mental peak as a player. That win % puts Swiatek at #8 among all players in the past 50 years, just under Seles and Henin and above Hingis, Clijsters, Davenport, and Sharapova. Even if the field is weak, you can't argue against her because she has been dominating it. Sure, she's not dominating it like an Evert, Graf, Navratilova, or Serena, but she is dominating it one tier short of that and giving out breadsticks like there's no tomorrow.