To each their own. Over the 4 years I have been geocaching, I have found the real reason that I personally like geocaching is the writing of the log itself!
At first I thought finding something new in an area I'm quite familiar with was great... turns out that's what my wife really likes.
My 9 year-old is now turning 14 in a couple of weeks, so he's moved from the trading of trinkets to actually getting interested in finding the cache itself. He feels pride when he comes up with the cache first, and that's important to a teenager.
My one year old still dives into the trinkets with both hands, carefully inspecting them all before making his selection. I imagine as he grows older he will be quite proud of the collection he has in our geocaching pouch.
The thing is, because there's 4 of us looking for every geocache, I always have a lot to write in my logs. Hand on heart, I love writing meaningful descriptive logs that are as long as they need be because I have 4 stories to tell! I even try to make sure I log what the smallest Jibber traded in the cache just in case kids of other cachers read our log. It is not uncommon for us to spend 10 minutes writing a log for a cache that took us under a minute to find. My whole family realizes that our log is our contribution to the cache, whether we found it or not.
I know most cachers feel this way but actions speak louder than words.... er... more words speak louder than less words?
Heck, I'd even go so far to say I hate acronyms (and if you knew what I did for work you'd find that deliciously funny). Most of my finds I will type out "Thanks for the hide!" just because I can.
Again, this is only my 2 cents on the topic.