What is it with the fascination of men (and women) with the pre-pubescent girl look for their privates?
Isn't that a little scary when you stop and think about it?
Without getting too graphic, there are certain sexual benefits to such an arrangement.
Plus, it's part of the "stripperification" of America. With the prevalence and mainstreaming of pornography and strip clubs, women take certain cues from women who are sex symbols.
It's a trend that's gone in and out of style historically - I was just reading a book set in the days of Louis XIV and the (upperclass) bride was having all her body hair plucked, and I remember reading something about it in Roman times too. It's only ever been the nobility who had the time (and the servants) to do such things.