I watch on occasion. I do live in Kentucky though, so it was bred into me from birth.
I don't know, it's just the corn factor, plus the occasional humor. Back during the late 90's to about 2002, it was really awesome though because the plot was unbelievably unpredictable.
Every once in a while there's a good pro wrestling game too: (WWF No Mercy, Smackdown Vs. Raw 2006) that stirs my interest as well, but most of the times I just read the sites to see if there's anything funny/interesting and download the episode/PPV on torrent.
And, the old ECW kicks some major ass and is ridiculously hilarious.
There's also nothing like watching Undertaker throw Mick Foley off a 20 foot cage and then watch him continue the match with broken teeth, a hole in his lip, and a dislocated arm, followed by Mick Foley getting thrown THROUGH the cage into a ring covered with thumb tacks.
That's my extent of wrestling love.