I really think it does take someone as pompously idiotic as Jim Sterling to assume that quality equates replayability.
As with almost everything in video games, it's simply not that simple. While, yes, a great title is incentive in itself to be replayed, the blanket value of "great title" is just a stupid thing to equate to replayability since "great title" pretty much equates to everything in video games. That's the most cop-out answer I've ever seen. That's like saying what makes a book worth reading? Oh, because it's good. Why should you avoid this film? Well of course, it's because it's bad.
Thanks for wasting my time captain obvious.
To me, replayability more specifically comes from both the narrative and the design of choice. Narrative is obvious in that it works the same as with other medium. If you enjoy the narrative, you'd want to enjoy it again. Choice is more specific to games. A game with multiple choices per action warrants more replays, and a game with high replay value is one where choice directly matches mechanics in that the game challenges the player to choose his or her action to overcome the challenge by manipulating the mechanics.
For example, people like to replay Mario because the player can choose where to jump, how far to jump, how high to jump, etc, all to accomplish some challenge presented by the game. This creates a large variety of consequences per choice, and the player may discover different methods to overcome different challenges. Also, the player feels rewarded since upon replays the player inherently becomes better at the game, whether it is more understanding of the challenges and outcomes or improvement in the skill of the mechanics.
Another example is Pac Man. The choice is whether to go up down left or right, or when to eat those orbs, etc. The mechanics is easy enough to master, but the replay value comes from the player's choice to improve on his or her understanding of the game (movement of enemies, timing, etc).
Therefore, really, replay value ultimately boils down to rewards. Is it still rewarding for the player to replay a game? If the answer is yes, then there is replay value. And rewards comes in all forms and flavors, not simply "oh this game is good, so I'll replay it."
PS. Not all games with high replay value are great. For example, Cow Clicker is specifically designed as a joke to make fun of how bad games can become addicting on Facebook by applying a face value of points.