I would say there are a couple of things that make 105.1 so interesting. One being that every format change they've made seems to dig them deeper into a hole. Not that any of their formats ever made them a major player, but every time they've changed their format, it seems to do even more damage than ever before. The "new rock" format on WLRS definitely had some devoted fans and had some attention, even at 105.1. There was a time when everything at 105.1 was live and local in all the key hours, and even if it wasn't a very highly rated station or very profitable (I have no clue how it worked for them financially, but obviously not well enough to maintain the format), it somehow managed to be a relevant part of the local radio lineup... even if their signal sucked. LRS Fest was a real thing even, and it attracted the big names of the artists actually being played on WLRS. And I think people knew the station existed and what it was despite their shortcomings. Then Main Line came in and started tearing up the station piece by piece around 2007/2008 and just seemed to make things worse every time they tried something.
I think another reason is just a quick observation of Alpha Media's portfolio of stations they own in Louisville. Their other stations are rather well-known and three tend to have very solid ratings (and while WXMA usually doesn't have the highest numbers, they're successful because they seem to be grabbing the perfect advertiser friendly audience from what I understand). But WESI is their red-headed stepchild. You can even tell a huge difference between what you hear on WDJX/WXMA/WMJM/WGZB versus what you hear on WESI. You can sense that they're not even trying on WESI. If WESI was owned by a local small time broadcaster who was clueless about broadcasting, it wouldn't be so intriguing. But they're owned and managed by people who sort of know what they're doing in radio, and unlike stations owned by the likes of Cumulus or ClearChannel (or other similar large broadcasters), they've never been owned by a corporation that just cuts their losses on underperforming stations and lets them be as they wish. Alpha, in particular, is large enough that they have the resources to make something work, but also small enough that they actually NEED to make everything work.
Finally, it's just the curiosity... what's next. Speculation is always fun. Nobody else in the area seems poised to make any format changes anytime soon (I wouldn't doubt it if one pulled a complete surprise on us, though), and this is where the curiosity is.