Don't be fooled by all the touristy things that have been added to Warwick Castle. It is one of the most historically significant castles in England. Originally, a fort-like castle (motte-and-bailey) was built there in 1068 by William the Conqueror. Before that, the Anglo-Saxons had a fort there to guard against invasions by the Danes. Before that, the Romans built a Roman road, the Fosse Way, through the property.In the 1100's, King Henry II built a stone castle on the site.
It was the home of Richard Neville (Earl of Warwick) in the 1400's. Also known as "Warwick the Kingmaker", he was a master warrior, jouster, and had political influence that allowed him to place who he wanted on the throne of England. King Edward IV was held prisoner there by Neville, who attempted to rule as king in his place. The two round towers were built in the late 1400's by Richard III, who was made famous (or infamous) by Shakespeare's play of the same name. Lots of major players in English history associated with this castle.
Warwick is a medieval castle in good condition. Many of England's medieval castles are gone. Ruined by wars, or fallen in from neglect and their stones robbed to build local churches and houses. In 1978 there was talk of it being sold and possibly a shopping center being built there. It was bought by the Tussauds Company, who run Madame Tussauds Wax Museum in London. So, rather than tearing it down, they restored it, adding some touristy stuff. But it's better than having it torn down. The revenue from the touristy stuff and visitors keeps the castle standing. Better than the alternative fate for Warwick Castle.
To see a medieval castle that has not been restored or well-cared-for, go see Middleham Castle in Yorkshire. It also belonged to Richard Neville the Kingmaker, but fate has not been kind to it:
http://www.english-heritage.org.uk/visit/places/middleham-castle/
Note that the stone houses in front of the castle are made of the exact same stone as the castle. My take on it when I was there was that the stones were taken from the ruins of the castle to build the houses.
Go see Warwick. Ignore the part you don't like, and enjoy a truly beautiful medieval castle. We are lucky to be able to see it in its present condition. The interior is beautiful, with an amazing great hall, suits of armor, and sword display. No, it is not hype and glitz. I think their website makes the castle look like a cheap medieval fair, which does not do the castle justice. They sometimes have falconry displays and jousting, which are well done. I have been to Warwick four times, and will go again next trip to England.