LOOK AT ME IM SO UNIQUE LIKE BUTTERFLY
i just can't stand being similar to you people, my avatar, name, and signature is simply not enough!
as a non-offensive reply, just because it's readable doesn't mean it's comfortable to read, if i were reading an essay and every paragraph was formatted entirely differently i, and possibly many other people would be bothered by it
it's why chat room programs wherein each person can change the look of their replies generally aren't widely preferred, looking at totally different text every 5 seconds could probably put some strain on the eyes(besides the obvious staring at a bright screen for extended periods of time)
and trying your best to be all unique and in-your-face-im-so-different is annoying
and different formatting options convey different emotions in posts, bold text is often emphasis, and an entire post in bold is like an entire post in caps, it's practically yelling, if someone posted only like this everyone would hate them
you probably read the bold text in a "louder" voice in your head
and as asablief said its kinda attention whoring