People like rust for a lot of different reasons; that is, different people see different tangible benefits to it, and that has resulted in both a large and fast growing community of people who like it, and (predictably) backlash to that.
On the side of people coming from other memory safe languages, the benefit is much like Go, which has also become very widely used very quickly, so it seems worth taking seriously that the existing memory safe languages were maybe not satisfying people in some way. I think the popularity of both languages in this space can be boiled down to lowering the amount of abstraction without giving up memory safety, and simplifying the toolchain. Both Go and Rust do both of those things (in my view). I prefer rust because I don't like how the Go type system requires so much repetition of implementation due to lacking generics, but both languages make some amount of sense in this niche IMO.
Other people like rust because they came from C or C++ and got tired of some of their weaknesses but did not want to give up many of their strengths. Of course whether rust requires giving up the strengths of this languages is debatable and this where most of the backlash comes from. But rust is one of a very very few languages (maybe also D and Zig?) that can plausibly make this claim at all, and I think is has become the most actively developed and attracted the largest community of those, which does matter.
For me, it's a huge advantage to be able to plausibly use the same language for everything, from kernel drivers to giant applications. The only real competitor in that space is C++, and I think its cracks show more on both extremes, that is, I think rust is both a better C replacement at the very low end (see people like Linus Torvalds and Bryan Cantrill who are C diehards who dislike C++ but are interested or all in on rust) and is much better at the high level because of easy memory safety.
So I dunno, maybe there's a cult, but there are also very straightforward reasons why a lot of people are attracted to the language.