You got it wrong - the more pop-culture and very insane references are enabled by this trait. I assure you that Fallout, which had near to none of the obvious ones, was indeed also humourous.
I am going by this "An odder one,
Weird Wild Wasteland, would turn a lot of the game's cheekier jokes on or off. For example, you can play New Vegas with a willingness to come across a refrigerator that contains a bullwhip and hat — or you can play without worrying about seeing them.
The jokes are an homage to Fallout 2, which was also full of pop-culture references to the delight of some fans and the consternation of others."
Not having this trait you won't come across the references to FO2. With it you will. I think that svcks. I want to see them and I will for every play through, so I will have to pick it with every character I make. Why not just have the jokes show up no matter what? Is it to keep those that have not played the other fallouts from having their heads explode "Arrrg I don't get the joke... Brain goes Boom!." If anything it should make people want to play the other fallouts so they can get the jokes.
I for one can't wait to find these hidden FO1 and FO2 Gems

. svcks I need a trait to find them

At least that is what I understand by reading the description of Wild Wasteland.