It's the feeling of being more personalized. I see what you're saying about concerts, but it is not the same. Nobody is going to the concert thinking the musician is "talking to them" or making content specifically "for them".
Most OF content is not personalized. It might be consumed solo, but it's produced for a wider distribution. On the concert side, I feel there's a similar situation where you can pay a little to get the same experience as everyone else, or you can pay a lot to get VIP passes and a personalized experience.
Also, both situations are strongly dependent on the size of the fanbase. You're not going to get a personalized show from Taylor Swift or Bella Thorne, but smaller musicians and OF performers target that vibe exclusively.
I'unno every concert I've been to has included the band/singer replacing a placename randomly from the lyrics of one of their songs with the name of whatever town the concert was being held in. shrug
