I've used Oracle in a number of projects and I'm inclined to say that it's passable, but if given the choice I would look at alternatives for new projects.
One of the main reasons for this is that setting up local instances (even with Oracle XE) for development or CI processes (e.g. for full end to end tests, that test the actual database layer) is just not as easy as with the alternatives. It might scale up well, but it doesn't scale down that nicely at all.
In addition, I had numerous things breaking when attempting to export and import some data and setup a local database instance for a project that hadn't really been developed with that in mind and up until then had just used a shared database for multiple developers.
That said, Oracle has some nice features to it, such as automatic indexing (which oddly enough doesn't let you manually delete those indices, which is annoying), SQL Tuning Advisor in SQL Developer, some nice performance tracing and reporting functionality, a pretty good procedural language (PL/SQL is up there with PL/pgSQL), good performance in many cases (except I've had the query optimizer pick the wrong plan and have a query take 45 minutes instead of 3 seconds if a hint wasn't present) and a lot of enterprise oriented things I don't use or need, but someone else might.
Tooling wise, I'd say that it's okay. The SQL Developer tooling is okay (maybe apart from their data modeler functionality, which corrupts files and breaks), though personally I like MySQL Workbench as well and dislike pgAdmin somewhat, so my opinions might not be very mainstream. The drivers are available and can be installed without too many issues, there are relatively few surprises there, outside of maybe how widely supported they are (or rather, are not) in certain third party open source tools out there, like various migration utilities.
I suspect that many pick Oracle because that's what has worked for them in the past, some pick it due to the old adage of "Nobody got fired for picking IBM" which can hold true for Oracle in certain environments, others have a mindset of free being bad, or maybe they are perfectly justified in wanting some more support from the vendor.
Frankly, pick whatever fits the task at hand best and is suitable for your own needs: be it PostgreSQL, SQL Server, Oracle, MySQL/MariaDB or something else altogether. If given the choice, I'll personally optimize for technologies that are likely to give me the least amount of headaches, as long as they still fit the project goals.
That said, comments like this were interesting to behold: https://news.ycombinator.com/item?id=18442941