I ain't a clever man, what's the pull to this style of riding?
CX incorporates the best or worst of both road and MTB CX racing. It really depends on your point of view. To say it is difficult to explain is an understatement.
Roadies like it because it is like a road criterium race (short race with many laps) but you can't just sit in the draft and expect to sprint for the win at the end. CX is more demanding and requires you to work to remain in contention. Superior fitness is key. Since roadies are often "legs and lungs", they have a fitness advantage.
MTBers love the technical skills that are required. Bike handling skills are required. The MTBers can make up for lesser fitness with superior off-road skills. A good course will challenge even the best bike handlers. Advantage MTBer.
The courses are typically short, compact and in open areas. Spectators can often see the riders over the entire course. It has a circus like atmosphere with crowds yelling and ringing cowbells endlessly.
Races typically start like a MTB or MotoX race. The guys that get the "hole shot" or first to a barrier section have a big advantage. From there, it is all about how long you can go at your maximum. The pack will break up into small groups over time. Road tactics come into play as you draft off others and try to limit your loses or bridge up to groups ahead of you.
Technical sections are scattered throughout the course that require you to dismount and run short portions. These consist of "Run-Ups" (steep unridable sections) or barriers (16"-18" high walls placed closely together). Dismounting and mounting skills are key and can significantly impact the race. You'd be shocked at how fast these guys can get off and on a bike while running a full sprint.
The last thing to note is that these races are often done in foul weather. CXers take pride in riding in the worst conditions. It adds to the draw of the spectators which invigorates the racers. Real exciting stuff.
For the record, I've raced Road and MTB for years. I've done one CX race and watched a few more. If you watch one, you will be drawn to race one. Once you're racing you will ask yourself why the Fock you are doing this to yourself. Afterwards, you will be asking when the next one is. They are very unique events and the energy is invigorating.