But of course, there are people who do manage to catch the shinies they want with the natures they want. And people are still eager to find such specific Pokémon for trades as well...
As far as the appeal, yea, it would be the rarity and shine factor, but I think with all the cloning going on, rarity isn't that big a deal anymore, since most people who have a Shiny Mew, for example, probably have either a hacked one or a cloned one. It's quite sad if you really wanted to have something truly "one-of-a-kind." :(