Wait, what? I'm with you that it's hyped to an annoying extent at times, but what do you mean it's a "feature?" Maybe I'm reading you incorrectly but it's almost like you're implying the only difference between it and other fabrics is a colorful stripe down the end. Or do you mean in a sense that silk is a "feature" of a tie in that it's not rayon? Just doesn't make sense to me.
It's a feature of the denim. I mean that in a straightforward, literal, wikipedian sense. Selvedge is a quality which certain denims possess. Selvedge is a self-edge, a finished end to a fabric that doesn't fray, and creates a definite "stop" point to a fabric. It doesn't have to have a colorful stripe, it just has to serve as a finished edge to a fabric that doesn't require any additional needlework to prevent fraying.