1. It has nothing to do with its unfortunate title.
2. The title screen changes every week, and is almost always hilarious.
3. It's full of TV veterans who possess impeccable timing (Courteney Cox is the best, but everyone is fantastic too).
4. It has a lot of heart.
5. There are elements of magical realism that are engaging and delightful.
I often have trouble watching shows about terrible people ("Up All Night," "Happy Endings," "Seinfeld"), so my love of "Cougar Town" is sometimes hard to understand. I think that my problem with "Happy Endings" is that those horrible people are 1. horrible and 2. horrible to one another. That's part of their charm. I loved the first season, but after the hiatus, I just couldn't get back into it. "Up All Night" is unwatchable for me at this point. I try to watch an episode and I just end up turning it off after five minutes. I think the same problem with "Happy Endings" applies.
"Cougar Town" has people who meddle incessantly in each others' lives, but they never seem to be motivated by mean-spiritedness. For every episode where someone inadvertently does something awful to someone else, there are two more episodes where everyone bands together to help someone out. They all like each other, and that's what motivates them. It's very, very sweet, and I appreciate it more and more as television becomes more populated with selfish and unlikable characters.
Like so many other shows, of course, you can't start from the beginning. Like "The Office" (American version), "Parks and Rec" and "New Girl," you have to start about halfway into the first season. That's when the show really starts to find its footing, and where the storyline diverges from what the showrunners (as evidenced by the title) thought the show was going to be about.