Good is always subjective and I think it varies from format to format and town to town. I think my definition would be: programming that inspires listeners to care about the radio station and motivates increased listening through service to the community and helps act as a catalyst for change in the community.
If you can't change the dial without a fear of missing something or feeling like you'd be left out of the lop, then you have "good" radio programming. If the audience is there just because there is nothing better on, then that's not so good programming. I think the latter is what folks have gotten used to in the last few years. When's the last time you heard someone say "I LOVE LOVE LOVE WZZZ?" Remember when it used to happen all the time? Isn't that what inspired most of us to do what we do and still be fans of radio? I don't think jingles and formatics, which is what us radio types focus on, would be within the typical listeners definition of good.