You live in Ames, right? The crowd that is interested in this is generally people who live elsewhere and are back in Ames on a very rare basis to attend a game or campus event or whatever. The idea of occasionally reminiscing about youth, especially if meeting up with the people you shared it with, doesn't seem that weird to me. These people aren't seeing reminders of their college experience every day the way someone who lives there would.
It's a way of temporarily reconnecting with a time in people's lives that they typically view fondly. Many met their spouses or made lifelong friends in those places.
For most people it's not part of some extended pathetic attempt to remain young as much as it is an occasional sentimental return.
People who are only in Ames a couple of times a year want businesses to be located in places that wouldn't see support most of the year.