People have fond memories of going to Waffle House after partying, or going with their tween friends as the only place they could afford to go out to eat, or going after softball games in their still-dirty uniforms.
Another commenter mentioned that Anthony Bourdain said Waffle House was better than The French Laundry (while eating Waffle House drunk, late at night).
To eat at The French Laundry you need to plan ahead and try hard to get a reservation. You have to act and dress appropriately and show up in maybe a 15 minute window for the hostess to deign to grant you the privilege of being seated.
You can eat at Waffle House on a whim, with anyone you like, in (just about) any state you like.
Having had both I wouldn't say that the food at Waffle House is actually better than the food at The French Laundry. But there is something that people appreciate about Waffle House being the reliable place you can always show up for comfort food, at minimum cost with minimum judgement.