forgive my unusual perspective, accept it for what insight it may offer:
what makes fighting games appealing = girls. the popularity of "streetfighter" was based on a female character with "provocative" panty revealing high kicks that allowed females a chance to play a gender pertinent role with prospective/hopeful males.
i think like most games the abstraction of reality to the form is significant enough that the dynamics "belong to themself" more than accurately reflecting brawls. it would be nice if people who were eg. martial artists primarily were into game design, it's happening slowly. while the sights and sounds may remind players of fights, the skill sets only overlap in the most fundamental human domains eg. hand-eye reaction.
in my opinion, "what makes games fun" is very simple - provide a venue for the basic dramas of event. that's all.
whether you're balancing dominos, or punching a shark on the nose, it's the same fundamental drama of risk. i think the key to *good* game design is facilitating a venue for the intended frequency of drama, eg. "asteroids" is extremely high paced and would tire you out if you played it for as long as "skyrim" is meant to be played.