Well, this is a hard subject to talk about. Because most people just won't get it, they get insecure about sex. But I'll take a crack at it.
I like watching my wife with other men. And it's not an inferiority to other men thing (for some who crave degradation it is, but not for me). For me, it's about her. The guy is just a sex toy she uses to challenge me. It's like she's asking, can you handle my sexuality. I'm not a tame housewife, I do what I want. I **** who I want, when I want. I'm wild and free. And I'm yours as long as you don't try and control me. I can be with whoever I want, but I choose you.
It's actually very intimate to watch the person you love with someone else. To be witness to their fantasy in action, to let them explore themselves without judging them. Most women have very dirty minds, and love sex. But they've been shamed their whole lives into hiding it. Breaking through those defenses, getting to see the inner workings of my wife's mind. To have that level of trust. To have her so comfortable with me, and me so comfortable with her, that we can we can both honestly say we like sex, lots of sex. Weird, kinky sex, the kind that makes a preacher write a whole sermon condemning it. That deep of a connection is once in a lifetime.
And when it's happening, it's like having an inside joke. She's making eye contact with me, not him. She's putting on a show for me, not him. She's judging him and his performance with me as the standard. And they always fall short, because they don't know her like I do. I'm not watching a man please my wife, I'm watching a man fail at pleasing her as well as I could. Watching him fall for her, seek her attention, and make the mistake of thinking she could ever be his. And when she dismisses him as nothing, and when he realizes he was just a plaything in a game we play with each other. It is him who feels inferior. And I like watching the feeling of superiority in other men degrade into inferiority. I like watching her build them up, and then knock them down. And I like knowing that they will search their entire life looking for a woman that loves them so hard, they will never feel jealous.
I have a wife and a girlfriend, and we all live together. I love watching my wife with other men, but not my girlfriend, although she's free to do whatever she wants. We don't have that deep of a connection. And we probably never will, and that's ok. My girlfriend is my best friend, who just happens to sleep with me (and my wife). We'll only be together as long as it's fun for both of us. I don't mind if she falls in love with some other dude, I'd be happy for her. It wouldn't hurt our friendship. Or the type of love we have for each other. Plus I know whoever she falls for, will always be insanely jealous of me. I don't know if she will fall in love with the next guy who asks her out. But I know my wife can never fall in love with another man. I feel it deep down. And it amuses me when other men fall in love with her, only to be rejected.
And it is deeply satisfying knowing that my women are with me because they choose to be, not because they are obligated to be. They may go out and have an adventure once or twice a year. But 99% of the time, they choose to stay at home with me. Not because they have to, but because they want to. It's one thing to think that, but to know it, to have evidence of it. It's amazingly gratifying.
I challenged myself to overcome my own insecurities, and when I did, I was rewarded. Rewarded very well. Rewarded so well I barely watch porn anymore. Don't need to, I got my own personal porn stars that perform just for me.