Interesting take. I'm of two minds about this...

On the one hand, I do love the learning process involved in working on cars, and while the first attempts at something invariably take longer and sometimes don't go as well as planned, there is a certain satisfaction to doing the job the next time round when you know exactly how to diagnose it, have the tools you need, and you know exactly how to do it. Even more satisfying when you can share that expertise with someone else!

On the other hand, there are some jobs that are just not fun, and doing them once is enough!

I think the distinction between these relies on a number of aspects:
1) A do-over because you screwed it up totally the first time? Not satisfying, particularly if this results in an immediate do-over and/or significant damage (example - you screw up cam timing on an interference engine when you change the timing belt).
2) A do-over because new knowledge, experience, ideas, techniques, or parts reveal that improvements could be made? Satisfying!
3) A do-over because you've put in the miles and worn out the parts? I'd say there's a certain satisfaction in this generally, with the caveat that it probably doesn't really apply to older daily drivers - first set of wheel bearings, sure, but by the time you need the second set, I can't say I'm looking forward to dealing with the rust situation...
4) A do-over because of defective parts? Downright frustrating!