I have never enjoyed a round on a walkable course in a cart as much as a round on the same course walking. I simply don't feel I'm as exposed to the course, or get as good a feel for the course when I'm in a cart. I also don't enjoy the game as much, the rhythm simply doesn't feel right. That's why I will always choose to walk when given the choice, all things being equal.
That said, of course there are courses or conditions that require a cart to be playable. I played golf in Spain in October last year for the first time. Most of the courses we played I simply wouldn't have played on foot. To me any course, no matter how good the holes, that needs a cart to be playable will struggle to be a favourite for the reasons above. If I lived in the Southern USA I'm sure I would play golf in a cart in Summer. I simply wouldn't enjoy it as much as cooler weather golf at other times of year. Similarly, I don't enjoy winter golf in the UK as much as the Spring, Summer and Autumn but I still play.
I don't think proper competitive golf can be played in a buggy, however. Golf is a sport and part of that sport is the walk. For me that applies at any level. My club now has a couple of buggies. They rarely get used. Anyone winning a monthly medal in one is not, in my book, a proper winner.