UNLV won it once. A commuter school in the middle of a casino town. EVERYONE in Vegas was a fan back then, and many still are. People still talk about those games, even if the team in question didn't go on to win the whole thing. ****, even Duke, they're a small private university in North Carolina.
Michigan's Fab Five. People still talk about them, even if they didn't win the whole shooting match. You probably couldn't name any of the UNC players (well Junc probably could) that played against Michigan in that 1993 title game.
It goes on and on like that.
The games, the atmosphere, that's why people watch it. I really don't care who wins it, mostly because my team (Miami) is never in it, I just enjoy watching it for the craziness surrounding the whole thing.