That said, there must be reasons why Live is sooo popular...?
There was a time when it was all the rage. How things change.
I've been using Live since 2015. My take on what it's got going for it is that it has a relatively streamlined interface, and is fairly opinionated on a particular way of setting things up, which makes learning it quicker. Instruments and effects for each track across the bottom. Make a bunch of tracks whose output by default feed into groups, which you can treat as busses. You can override the routing, but the default is easy to understand and straightforward. The stock devices cover 95% of what you need to do, generally "sound good" out of the box, and Max For Live provides a way to make custom devices that seamlessly integrate into the DAW.
Also the clip launching stuff and integration with the Push is neat. I suppose more DAWs have that capability now, but in 2015, Live made it easy.
If I were to pick a new DAW I'd probably go with Bitwig. Live is starting to feel like legacy software to me. Max For Live is too low-level to do polyphonic instruments easily, but the visual node-graph approach is harder for me than writing code would be. It sometimes hangs for 30 seconds at a time while I'm trying to flesh out some ideas, and find myself annoyedly sitting there trying not to forget what I was trying to do while Live gets its shit together.
the clip launching workflow makes it a great file for live sets, improvised electronic (or any other kind of music based on blocks), and so on
very streamlined for easy focus - many DAWs suffer from windows upon windows, in Live it's all (including built-in fx and instruments) in a single, non-MDI window, and all tools, fx, instruments, windows use the same widgets and concepts (not the case in e.g. Logic or Cubase)
automatic (and good) sync-to-tempo for audio, including several manual manipulation options (pitch/tempo/combo/etc)
opinionated fx and built-in instruments tuned to electronic and experimental music (including a full-on built-in version of Max, one of the most popular visual programming environments for building your own fx, instruments, audio/midi processing tools, and so on)