I would suggest that hair removal for men is seen as something only gay men do. It's associated with the feminine and therefore it's not a trend that many heterosexual men would want to adopt.
I am registered as a man on Facebook and I get a few hair removal ads for men every week now. Yet IRL I don't know of anyone except for one gay man who spends any time removing hair except from their face.
With all this hair straightening, dressing up, hair removal, eyebrows, underarms, legs, and now pubic hair, make up, I do wonder how women get anything done! We must be pretty amazing to spend time doing so much personal grooming (and I am guilty of that too) and yet still manage homes and get on in our careers etc.