Steelies look bad IMO. They suit a van or a truck, but I get sick if any of my cars has steelies. The first thing I bought when I got my 96 megane coach 2.0 16V were the factory spec alloys, I paid nearly as much for the alloys as I did for the car (car was 1500PLN which translates to around 350€) I still have to get a set of cheaper alloys for winter wheels.
I think it's kinda like Stockholm Syndrome. Steelies are more common on older cars, and many people like older cars. Crown Vics often look good with steelies, and so many people love Crown Vics. We see them so often that it grows on us. Also, people are different, that's it.
IMO, normal steelies are a “meh, there ok I guess”, but with a big deep dish on a classic sedan or hatchback (80’s or early 90’s), they look awsome.
They do look better if they're not partially visible through some plastic hubcap though. I was just noticing this yesterday while I was parked next to a base late-model Civic...