Cause, the about makes it sound more personal
nicer for me
I can add all my personal links for free and have the most important sites as plugin showcased on the site itself.
More features - free of charge.
First, until now, I had never heard of flavors. That said, I find about.me VERY simple and easy to use. I even upgraded to using my own domain. I create websites for other people but for me, I wanted simple and fast. What you list as about.me drawbacks are precisely why I like it. Cheers! :)