It's not so much that chrome itself looks "bad" on our cars. It's more that chrome wheels are usually heavy, so it takes away from the sporty image some. If Racing Hart and Volk decided to start making chrome racing wheels, then it might be different.
But even then, the second factor would still remain... that chrome usually goes on cars that don't have very attractive or sharp lines (SUVs, luxury sedans, ect). For those cars, it creates a focal point on a rather bland vehicle. When you have these huge chrome wheels on a sports car, it just draws attention away from its natural appeal.