I always love these pokémon, because I think there's a moral tale behind it. Hear me out.
So they're basically the physical personification of beauty, right, but it isn't just the looks. What actually makes Milotic the most beautiful pokémon is its beautiful heart. It's Gyarados's counterpart. It's caring. It's compassionate and has the power to make people stop fighting. It's pure of heart, or whatever. It's basically a unicorn.
Feebas is described as ugly, but adaptable. It's said that trainers largely overlook it because they never see past its unappealing appearance. These people are what we call shallow. Feebas is hideous, but has qualities that make it worth putting on your team if you don't care about that.
So think about that. Who would ever train a Feebas? Trainers who don't care about vanity and good looks, that's who. They weren't expecting the physical incarnation of beauty. They just saw the value Feebas had when no one else did.
In other words, the only people who should own a Milotic, are those who don't care about vanity, and never did in the first place. Those people who see past the surface. In other words, those who have a beautiful heart.