What Are We Staying for in California?

Another friend announced he's moving out of the Bay Area. My ski buddy's family had just returned from Singapore when he shared the news: he accepted a job in Arizona and will be relocating to Scottsdale by the end of August.
I'm sad to see him go, but genuinely happy for him. It sounds like a great opportunity.
His move got me thinking about a question I hear more and more often these days:
Why don't people retire in California?
Most of us love it here. The weather is amazing. The food scene is hard to beat. Within an hour, you can be riding in the mountains, walking on the beach, or exploring just about any culture through its restaurants and communities. Yet many people seem to have the same long-term plan: stay while the kids are growing up, then leave.
The reason is obvious. California is expensive.
From a financial perspective, moving elsewhere often makes perfect sense.
But if that's true, what exactly are we staying for?
For me, it's the life built around this place: early morning rides in the Santa Cruz Mountains, friends nearby, familiar routines, and easy access to the experiences that bring me joy. None of those things fit neatly into a spreadsheet.
Maybe the question isn't whether California is worth the cost. Maybe the real question is: what are we actually buying when we choose to stay?
Still thinking out loud—curious what you think.