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It's the system that allows for more diverse Pokemon to find in the wild and when you battle your friends. It's also the same system that makes the Champion's Dragon Pokemon better than that Ace Trainer's Dragon Pokemon.
As for the competitive aspect, I like it. It makes you feel closer with your Pokemon when you've finally bred a great one. It makes you feel like you've accomplished something. Not to mention that it gives more options for team building. Trick Room would lose a lot of viable monsters in it without IVs.
Besides, it takes like an hour, if even that, to breed a penta-perfect Pokemon. If you don't like it, play Showdown or Pokemon Online, or just stop playing Pokemon altogether.
