Anyone who says they farm because they enjoy it is a liar. There are ways to make it tolerable - personally, I watch TV while I farm because you don't need to pay 100% attention to the game when you do it - but the trade-off you make for the tedium of farming is the faster acquisition of resources, be it XP or inf or whatever. That's the reason why people farm for whatever resources they're farming for.
I've had all of my major characters fully IO'd and levels for months so I don't really have a reason to farm on a regular basis anymore, but I'll do it when I come up with new characters or when friends need to be powerleveled. For me, I'd rather farm and quickly get to 50 and have plenty of resources to trick out my new character than roll up a new alt and level through story arcs/TFs/regular content. IMO most of the built-in content for this game is god awful, but some really fantastic RP campaigns can be created through a combination of AE and custom bases. For that stuff I like to have all my powers unlocked and I don't want to deal with playing an unbuilt character, which is pretty much my main motivation behind farming.