People just don't see the work needed to code their own forum script when they can get by with vbulletin. The amount of coding in it is amazing. Granted, it's not the best, and as we've seen the code isn't all that great...but it does the job, and it has a good reputation as a great forum software script.
I've attempted coding a forum before and I gave up after a week, hardly had anything done. There's just simply too much to it, and all the features that vulletin has (along with addon scripts) just makes it not even worth it to reinvent the wheel, unless you plan on somehow marketing it, which then you have to ask yourself if you could make a profit after all the time and effort you put into it

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