Having long labia can cause quite a lot of discomfort when doing a range of activities, contrary to perceived opinion it has ofttimes little to do with appearance.
Unless you are working in the porn trade the requirement to have a vagina that fits a rigid range is pretty relaxed. Not many men are so critical of their partners equipment that they refuse to engage in relations unless she gets it gussied up!
For most of us it has more to do with how we feel in all senses of the word than peer pressure or magazines images.
Most of us have more brain than that but it is like a lot of these procedures, now we can actually do something about what we don't like rather than just putting up with it.
In days of yore women had to suffer in silence, no doubt a lot of men did as well.  
I ought to know what women's bits look like as I was a midwife so I can put my hand on my heart and say I have seen a lot of them and some are very pretty and some not so pretty but they were all pregnant. Ergo somebody didn't care!