@jk I've had it since early days, and made a few houses & dug down, but never killed one of the big bosses. Grinding little mobs is fine, just giant ritual/demon things, nope.
Just like Cameron can't get anyone to buy merch or Avatar novels or whatever.
@jk it's probably because it's exactly that kind of game where you don't have megafans, only casualfans, that it reached so many people.
It's easy to pick up, it's goal-oriented, but you still have sandbox freedom. You can play by yourself or however many friends you want. It's unreasonably cheap, especially during sales. They kept adding more and more content to game, for free, long after its full release.
It's a lot of things adding up to its success, I think, and some of them started compounding. 
@jk it probably also helps that Terraria predates a lot of the more popular indie games and when stuff like Steam greenlight started happening.
These days there's so much getting released on the major platforms, it's harder for an indie to become as massive of a hit as e.g. Terraria. 