I have come to a few conclusions about this myself, but this is just an opinion.
Plain fried ground meat is unappealing because of its raw taste, so the multitude of chili spices (especially cumin) do good by masking it.
Ground meat in a soup is perhaps slightly more appealing than plain ground meat, but ground meat in a stew is even more appealing. This is because the fluids are there for comparison, but theres only a little bit of them, so it emphasizes the solidness/toughness of ground meat.
The vegetables, especially onion also emphasize the meatynes of ground meat, and the meatyness of it comes through better if it is ground not chunky. Beans also do the same thing while also birdging the gap between onion and ground meat.
Then theres the spices, the chili spice is less stark compared to pepper. Pepper just does not suit pure meat well. Chili spice synergizes well with cumin, creating contrast. These are instrumental, the others are just for flavoring.
Anyone who loves chili will definately like the spiycness, and I also like the red color.
Every time I make chili I over eat, cant help it.