oooh i was actually hyper analyzing myself about this one and u seem nice enough.
hard to get words i want but a good chunk of it is projection on my part on the loli side, another more base answer is i like cute things! and loli to me is more of a series of design choices that aren't indicative of one's age (hence 1000 yr old vampire lol), they're just like, bobble heads or fairy looking things to me. ageless creatures and dolls that i can ascribe certain attributes.
i will say i don't like every loli! while i don't care what fictional things people are into there's flavors i don't really partake in! i really need a fantastical aspect if that makes sense. there's also characters i wouldn't consider loli/sho cus it's pretty obv when the artist/author had certain intentions with their designs or not.
i'm trying not to make this TOO wordy or personal, but mostly it's just design aspects i enjoy, plus i project onto them a lot.