While i doubt that we're a spectacle of the universe, I think that neighbouring life forms might be interested in contacting us, just for the sake of connection. Sure they could be so far advanced to the point where we're as insignificant as insects, but they could also be more simple, compared to whom we're more like dogs or monkeys. A simpler life form would be much more likely to take interest in us, I think.

The main hurdle, to me, seems to be the undertaking of interstellar travel. The idea that faster-than-light travel isn't possible serves as a pretty good explanation for why we haven't been contacted. But even if a civilization could easily and quickly travel to stars, the chances that they'd pick ours any time soon would be pretty low, even if you multiply it by the number of civilizations that could have interstellar capabilities. In all the time we've had, we haven't even named all the stars in our galaxy. I can't even imagine how big of a task that surveying the entire 300 billion stars of the Milky Way would be, even if you could zip to them in a second.