Well like a lot of fetishes, it’s hard to explain/can’t be/something one just likes. However, being an actual function of humanity, there are reasons one would be turned on by seeing a pregnant lady:
-Satisfaction. This is a reason my friend likes it, kinda difficult one to explain, but basically the same idea as the waifu thing.
-It’s another curve to the body. A pregnant belly is not unlike the shape of the breast or buttocks. Men are hardwired to like the latter two things so, it’s an easy association. The human mind recognizes things by basic shapes.
-Pregnant woman (usually second trimester) are more horny, or at least that’s how it’s usually seen.
-breasts typically enlarge and lactate during pregnancy.
That’s the best I can explain it. I like pregnancy myself. Now, I fully get why it would be seen as weird, a baby in there and all that, but hey, baby is fine during intercourse in the womb, ain’t no dick or toy getting through that closed cervix.