I actually agree..... I don't find the unnecessary blood effects appealing, or funny. I understand the game is supposed to be "over the top", but the blood effects are just not really... consistent with anything.
I mean, like pointed out by another user, shooting someone and punching someone causes the same blood effect. No difference in the amount. As well, it's a bit... weird... when you can punch someone and all this blood comes out and yet they look perfectly fine with no damage on their body a second later... So, um... where did the blood come from?
And finally, if you watch the trailer for the first mission, you'll see the main character hit someone's head against the wall and a ton of blood shoots out... yet the guy is fine a second later. It then leads you to believe that guy must be Wolverine from the X-men to survive a hit like that... *shrug* It just gets weird.