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"?
I don't see it as an age/pubescent (pre or post) thing at all. For me it boils down to 2 things:
1. I'm used to it now due to its prevalence in my generation, and so some level of grooming has become as expected as smooth legs and underarms.
2. As a man with an oral enthusiasm, it is generally a more pleasant experience on both ends if some of the brush is cleared away. Including on an olfactory level, since hair tends to hold on to odors more readily than skin alone.
Mind you my enthusiasm is rarely lessened by the presence or even abundance of hair, it is merely a preference.