It is, of course, very easy to cheer for a team that is at the top of rankings. And it is perhaps even more exciting to cheer for a team that isn't quite there, but that is making a run for the playoffs.
And then, there are certain satisfactions to being a fan of a team of lovable losers. You can complain endlessly around the water cooler. Any victory, no matter how small, will be an impressive victory. And when you wear the cap of a losing team proudly, you show just how great of a fan you are.
But the fan of the 0.500 team knows none of these pleasures. The team may show flashes of brilliance, beating the Yankees two games out of three. But that enjoyment is tempered by knowing that the team will surely lose the next series, or the series after that, dragging them right back down. And though your team won't be making the playoffs, nobody sympathizes with your disappointment. Indeed, it is bad form to even complain, because other teams have it much worse.
So you plug along, wondering each day if the team will buy, or sell. Hoping it will be different next year.