Lo-Fi certainly certainly has an appeal all its own.
The reason why GBV's Vampire on Titus sounds the way it does is precisely because they treated sound quality as an afterthought. Makes it unlistenable to some, a diamond in the rough to others. To me, it's the greatest underground album of the '90s. As Jason Hernandez once so brilliantly put it: "[The album] conjures up mazes of crushed basement beer cans. [...] What keeps us coming back are all the solid tunes beneath the grime. This is great, unsettling cartoon-land psychedelic pop from front to back. [...] Several classics lurk in this murk."