From a classical liberal perspective, Switzerland's governance seems utopian. Low taxes, good services even for low income people despite the low taxes, very decentralized government, and it really does seem true that "no one bothers to know who the president is".

My big question: what's the catch?

Like, what stops every other country from adopting a Swiss-style political system?

(This is not a rhetorical question, I'm actually curious)

Wealth, imo. If politics is about chopping up the economic pie it helps to start with a big pie. The lack of struggle gives rise to the lack of interestingness you mention (though I do find their manufacturing industry interesting).