VATS is the "I win" button due to making the PC invincible. Besides, I can aim pretty well, so I don't need it.
Whereas I can't, so I tend to use VATS in spots where I can't hit the targets very well. (Mostly either hyperactive dodging-all-around-you-at-melee-range situations, or sniping at that raider who has a spastic walking pattern.)
I like it because it adds a "turn based" game feel to it, whick I love.
It's not.
I'm not sure how you can argue what "feel" another person gets from a game feature. It's sort of an emotion/opinion thing. /shrug
VATS was clearly designed to give a kind of nostalgic wink/nod back to the Aimed Shot feature of FO1 & FO2. So I'd imagine that some number of people who'd played those games got a bit of "hey, this is like the old turn-based games" feel from it.