When my bedwetting was a once or twice a year thing, I didn't shave "down there.." But when it got to be several times a month, and I started wearing diapers again, I also started shaving "there". For me, it's a sanitary thing, Before I started shaving, I sometimes thought I could smell a whiff of pee during the day even though I shower EVERY morning, and always have. Being clean shaven, it easier to wash up in the morning, and now that my daytime urge incontinence is increasing, it's easier to use a cleansing wipe during a mid-day diaper change too.
Also, some people above mentioned applying cream... Yes, trying to apply diaper-rash cream over a jungle is messy and not effective!