for some people (like me), it is not feasable to build their own block. the blocks on the market are affordable, and perform.
that said, i had to figure out ways to mount my "heater core and modded aquarium pump".
i made my own res and
fan shroud (which looks and works great i must say). i only did these things because for me, there were no options. today, there are a lot more options, and it's no longer necessary for people to make their own stuff.
having a quiet computer is certainly a valid reason for watercooling. furthermore, there will always be a need (desire?) to overclock as long as there are new games or apps that benefit from having a faster CPU. although, is heat really holding overclocks back these days? hmm...
at any rate, watercooling is just plain
cool. it will always be an enthusiast hobby until you start seeing PIB's that come with waterblocks instead of heatsinks.