Let's not fool ourselves - maintaining a notifylist for your average personal site or domain is an exercise in vanity. It's meant to reflect the owner's internet popularity (which is, in most cases, insignificant), and more often than not serves as an attempt to reach some sort of imaginary elevated social status.
With that said, I continue my tradition of mildly hypocritical behaviour by having one anyway. I like to think it's because my site and work are subject to different rules (sexier ones!), but you're free to come up with your own explanation.