Personally, its just really fun for me. I love hearing my lip's scrape wheels rub, and axle knock. It means your doing it right. Also, since I'm obsessed with VW's, theres no way to make my butthole pucker from going fast. So it might as well pucker from going low.
Also, I love the looks. Theres nothing more fun to me than watching peoples faces when you drive past. Its even better when your parked and they walk around your car a few times trying to figure out whether or not its broken. For me being on bags, its even better. Old people are fascinated by it.
Lastly, the low community is a really great one. Its all pretty tightly nit, we have our own little language, everyones always happy to help out some one else. Its just an unspoken fun little club. When shit hits the fan, you really realize how much you have in common with other low people. They've been there before, they can help you get back to normal.