Usually it's kinda cheap, but I think it can be interesting if it's actually used with thought and attention. It's okay for a reasonable amount of jealousy to be a character flaw, too, all the better if it's something they'll work on over time.
I also understand that possessiveness can be sort of thrilling if one is reading for fantasy purposes.
But yeah, the typical romance jealousy tends to be very paint by numbers. If it's not a bad story otherwise it won't stop me from enjoying a casual read, but it's nice when it's absent or utilized with more purpose. ^^