If you think of harem from the wish-fulfillment perspective, it's less about polygamy, and more about a guy being super popular with all the girls fawning over him.
It's the type of story aimed specifically towards the really shy people that never had the courage to ask anyone out I'd guess. A story in which all girls fall for the MC without him needing to put any real effort in courting them seems exactly what this audience would like... Which is also why those stories often end up with either an inconclusive finale on who's the final pairing, or with just a single person at the end... Because most people still wish for monogamy in the end, not polygamy. So having a harem ending isn't really what they want in their wish-fulfillment story.
... That's the gist of it from the wish-fulfillment perspective I'd say. Personally speaking though, I like harems when all characters are actually interesting and likeable and can stand on their own. I don't particularly care about the harem aspect by itself aside from the fact that a ship I like might actually become a reality. What I enjoy are the characters and their dynamics with one another.
Thank you for the explanation, and this is kind of why I have a problem with the subgenre.
There are other wish fulfillment stories, but if it is as you say, wish fulfillment for shy people who want to imagine that girls or guys are fawning over them, I think it can be detrimental.
The best stories are ones where characters have to make effort to achieve their dreams - and the greatest among those make a personal impact on the reader.
Reading a harem story (smut aside and my personal dislike of it) is not necessarily going to hurt the reader, but it will not encourage much thought.
A story like Mistborn however has a much more challenging reading experience regarding romance.
In the novel, Vin has lived in thieving gangs on the streets for her whole life. Any time she gains too much power in a group, she is beaten. When she entered her teenage years, she grew intensely fearful of rape from the men she needed to survive.
When she is rescued from this life, she is more than shy. She is paranoid about everyone and everything. She does not want friends. She does not want to grow close to anyone.
But over the course of the first book and the trilogy she grows into this absolutely beautiful character, who despite being a very odd person, finds someone who loves her in spite of her flaws and recognizes her strengths.
She is the kind of character that will help people who struggle with loneliness or with self doubt.
That's my big explanation of why I don't like harem. A wish fulfillment story is fine, but there is a whole subgenre for it, and never it seems are the realistic implications of this explored.