Being straight female, I don't have the visual fascination with women's genitalia that many straight men have (I assume some gay women, too). When I asked Hubby, as a representative for straight men, what he thought of "hairless" (whether shaved or waxed) women, he said it looked too much like a prepubescent girl for him to be comfortable with the thought.
Do men see hairless women as prepubescent, in a way? Is there a whisper of attractiveness to children in this? I know it's popular in porn (and swimsuits), but sometimes those who decide what's "popular" are...twisted in some way. Maybe they wanted to feel "normal"?