John, I think the answer is, we become habituated to certain flavors. In the well-known phrase, these are acquired tastes.
Why do we like the taste of smoke in a well-cured ham? Originally when meat was smoked to preserve it smoke must have been regarded as a taint. Now it is a mark of a good smoked product.
Same thing with a good Islay whiskey, or with cheese (the taste of a controlled decomposition), etc.
In whiskey, there are a multitude of tastes that we (some people, not all) accustom to. I find the "shellac/varsol" taste, which is whiskey mash fusel oils or other congeners, a trait of most straight whiskeys (and low proof alcohols in general). In some it is stronger than in others, however. I like the taste when it is well balanced by good wood extract, alcohol and the natural solids of an aged drink. If the taste is not there at all, the whiskey seems bland to me.
I find (as e.g. Chuck does in his book) regular Jack Daniels to have a shellac-like taste and smell, it seems part of its character (together with candy and anise notes, charred and fresh wood flavors, etc.). Personally I have not accustomed to the taste of regular Jack but I like the single barrel version a lot. I think this is because the various notes just get a better balance in that form.
I don't drink much malt whisky these days but when I do, and regardless of type, I generally note "lanolin oils" to a degree. Again, that is an acquired taste for most malt whisky fans. They may not choose that term to define the taste although many people do or use similar expressions (waxy, polished leather, etc.).
Of course, an overwhelming taste of solvent or other waxy notes might be unpleasant. I do not find this in the old ryes I've had, and some seem to have hardly any of it, e.g., I think the Baltimore taste tended more towards sweet, fruity tastes. Maybe originally this was done to cover over the taste of the natural whiskey. But I think the Monongahela style was enjoyed, well, unvarnished.
Do you remember at the end of the Bready article he offered a taste note (I think actually it was his wife's) that used an expression similar to shellac or wax polish to describe the taste of a circa-1918 rye?
There are again other tastes of traditional rye, e.g., mint or spearmint, a bread-like taste, a roses-like taste, a certain fruity quality, etc.
Lot 40 and some of the Old Potrero products to my taste offer a lot of the waxy-like element of straight rye whiskey. In the more "commercial" ryes (WT's, Rittenhouse's) it is there but in a much lesser amount. I find the taste relatively strong in Pikesville rye. Jim Murray called the smell a mix of new car interior and English cider. I wouldn't use those terms but I know what he means!.
The whole idea of Canadian whisky was to moderate that taste by blending it with lots of (ultimately aged) high proof spirit, and the original makers hit on a great formula in commercial terms. American whisky, the blended article, is the same idea.
Gary