I have owned and used m4/3, 4/3, aps-c, dx, 35mm sensor sized digital cameras. I can say with certainty that with every sensor size up, the overall 'look' of images from the camera changes. It becomes more dimensional, more tonally 'complete', more interesting.
Asking why people have so much interest in FF is like asking why people would have so much interest in medium format - the answer is the same - It's a different 'look'. And if you like that look, you will love the larger format. And if that larger format comes in the same sized body, I can't think of any real disadvantages besides price.
In my experience m4/3 to aps-c is about the same quality jump as aps-c to 35mm, which is about the same quality jump as 35mm to 6x4.5, which is about the same from 6x4.5 to 6x7.
It literally has nothing to do with megapixels or noise performance (was totally happy with my original 5d for noise performance) or resolution numbers or pixel density, it's just how the larger format translates what's in front of the lens. FWIW If I could afford it, I'd buy a pentax 645d or a Pentax S2 right now.
To say aps-c has the same resolution and noise performance as FF sensors is missing the point. It's like saying a camry with a modified supra motor can match a porsche in outright speed so the porsche has no point. The two would do the same thing quite differently.