i only have one ped, it's an 82 chappy lb50j.
i like the nostalgia. it's cool to be using something pushing 40 years old. lots of folks will see the styling and ask the age and then say "damn that's older than me." others will say "i had one just like it when i was a kid." it looks like a time when things were made better and had style.
i like the quirkiness. every asshole has a rice rocket or a hog. when you go blasting 45mph down the street on a 160lb bicycle with 8" wheels, heads turn. especially when you're 6'4" and 200lbs. kids smile and wave, i beep the silly horn, they go nuts.
i like the absurdity. people call me crazy because it's small... "when are you going to get a real motorcycle?" "that thing looks like a toy." etc. when i take it to work and it's below freezing, my coworkers think i'm insane. life is short, have some fuckin fun people! do stupid shit, make someone wonder. people who dig mopeds are never normal, they're all mental patients in some way or another. MY kinda people.
i like the cost. i have an automotive tuning background and hop up parts were $$$$. never mind repairs when shit blew up. insurance for $120 a year? yes please. 60+ mpg... i'm still running on 5 gallons of summer blend gas that someone gave me from their outboard motor (yes, starting is a bitch right now). new tires? $50. new brake pads? $50.
i like the challenge of staying alive. turning up the attention when riding because of countless morons on the road makes the miles/minutes go by. no radio, no snacking, no smoking, no cell phone--ya gotta focus if you want to avoid death and/or dismemberment. it's high stakes, but it's still a game.
i like the (relative) lack of power. i rode a liter bike (kawa kz1000) 20 something years ago, shared it with my dad. that thing was asininely fast and it's a bit remarkable i never got into too much trouble. i guess i was still a novice and didn't take chances. sure, you can get messed up at 45mph, but how much worse would it be on a way faster and less nimble machine? i've got a 400hp subaru, i know the draw of the throttle is very strong and it saw lots of time at WOT. if i've got the power i'll use it, so better to keep it <10hp.
i like the craft of keeping it running. how many folks left out there can tune a carb? replace a piston, port a cylinder, change a tire? do all their own maintenance and repairs, sometimes on the side of the road? tinkering in the garage is one of my favorite things to do, and this is a labor of love.
i like the utility. getting on for a quick trip to the store is so easy. i offer to grab shit all the time for my wife when we need something just to go for a ride. park where you want, nobody cares. no waste of gas dragging 4k lbs for an errand. no getting into a hot car on a summer day. i use it to commute (10 miles) as much as i can--the only days that are off the table are precipitation and/or wet snowy salty roads. i've racked up >2500 miles since june.
that's the long and short of it i guess. good question, made me think.