I'd rather spend time in the world running from point to point, instead of just waypointing. But I was the type who'd jump on my mechano-hog or hawkstrider and run from one end of a continent to the other just for fun, sometimes mining and gathering as I went.
I don't need extra speed (though a small base % would be nice, but not more than what any class can regularly achieve), or flight. It's just restful cruising through the world without looking at my poor character running.
It also gives me more stuff to collect. I would rather spend gold on a mount I can keep (even if the price is high) than a waypoint.
The cities are usually active on my server, but it's also an RP server; while not everyone in town is an RPer, it makes it nicer for others to hang out there too because there's always someone to talk to.
Edit: I'm in DR right now and it's pretty busy, there's even a biggish dance party going on.