Who peels asparagus and why?

Lidia (my favorite TV chef) peeled her asparagus stems on her cooking show
today (PBS fund drive here).

I've never peeled asparagus. What's the point? For show? Are you peeling away
nutrition?

Do you peel asparagus?

Also I've heard that fat asparagus is more flavorful than the pencil ones.
What say you? I've always liked the fat ones purely for more "meat."

?

Andy