Steamboat is one of my favorite mountains in CO, and probably my favorite town ever. they get a good amount of snow and its GOOD, light fluffy stuff, some of the best snow you'll find. the terrain is great IF you know where to go. i've got my pow day routine down to where i get mostly untracked snow for a good 3 hours, then move around to my other favorite areas from there.  I never thought of the mountain as flat, they have some great steeps, takes a couple minutes of hiking but it accesses some of the best drops and "pow jibbing" terrain around.
the lift served terrain is still good, i wouldnt call it flat, but definitely not as steep as other places. I like it though because its steep enough that you can still build up plenty of speed, but not so steep that your constantly having to speed check and slow up. it allows you to ski super hard and fast.
I could see it being a great place if you do backcountry skiing or have access to a sled, lots of great areas nearby.
the park isnt great, but they do have some pretty fun creative features. if you're looking perfectly sculpted massive jumps to practice your doubles on, its not the place, but if you like to just get creative and fuck around, still hit some pretty good big stuff, its great. the fun factor matches anywhere, the quality and size is where its lacking.
the town atmosphere is awesome, you dont get summit county broh's and their snobby attitude, the people are mostly awesome, the cowboy types keep it from attracting range rover driving hippies from boulder. and the town, especially in the summer, has some of the best mountain biking, hiking, camping, trail running, etc.. in the nation. the yampa river running through town, hot springs, good lakes, etc..
IMO id choose it over pretty much anywhere for a place to live.