Magoo's appeal lies in our hostility toward an older generation. But he's not only nearsighted physically. His mind is selective of what it sees, too. That is where the humor, the satire lies, in the difference between what he thinks he sees and reality as we see it.

Magoo’s appeal is that people can relate to him because they have experienced a disconnect with an older generation at some point. Magoo is a nearsighted character, but not just physically. He is also mentally nearsighted, meaning that his view of reality is very different from the reality that people see. People find this humorous and that is where the humor and satire lies–in the difference between what he sees and what the reality is.