How many other live applications can you think of that have evolved continuously for over a decade without becoming an unmaintainable mess?
I work with charities and SF offer an automatic 80% discount on everything which makes them a pretty good option. Why bother custom building a CRUD-type database when you can knock it together in Salesforce using (mostly) point and click?
On the downside: too much marketing fluff (Can't google anything to do with Salesforce coding without hitting loads of marketing bollocks), really bad names/constantly changing names for features (Salesforce1 - anyone know what that is yet?), really complicated licensing if you're trying to figure out how to do X+Y with cheapest licences. And the names of the licences keep changing ....
But technically, they must be doing something very right under the hood. And while I'm at it, I like their core API, its basically an ORM.