Ahh HFStival... one of the best days in the year if you were a young music fan who liked to day drink. Where else could you see a combination of artists like Cypress Hill, Eminem, POD, Violent Femmes, Ballyhoo, The Offspring, Jay-Z, Paul Oakenfold and Jah Works all on the same stage? Second best day of the year if you liked to day drink was The Preakness aka The Freakness (RIP to the infield and the Running of the Bulls aka the Running of the Porta-potties).
We moved back to the DC area from Southern California in the early 2010s and have mostly enjoyed it. I can't stand summers here as I hate humidity so July and August are brutal. You also get to choose between paying a fortune for something closer to the city to have a manageable commute or sitting in your car 60-90+ minutes if you want a little more space and privacy, so that's not great.
The food and bar scene is terrific, so not sure I get the comments on that front. DC is easily one of the top food cities in the US and has the 5th-highest number of restaurants-per-capita. It's also one of the fastest growing scenes in the US with places like Ivy City, SW Waterfront, and Union Market/NE all becoming destination spots after undergoing significant renovations.
I've traveled to every city that is home to an NHL team except St Louis, Tampa, Dallas, Winnipeg, Columbus, and Buffalo and a few are better but DC is certainly in the top tier, especially if you have money. You can be at the beach, in the country on a farm, or skiing in the mountains all within 2-3 hours. You can own a single family home that's short distance to city center or live in some pretty amazing downtown buildings. It has some of the best public school systems in the country along with many of the most notable private non-boarding high schools. All depends on what you're looking for but DC certainly isn't lame, though I do agree with
@Hivemind on it being overly pretentious at times (just in a different way from New York, LA, or the Bay Area). There's also a growing art scene here, and it's becoming a destination spot for startup companies as well.