The vast majority of my riding is by myself, but that's because it's my commute, which is 5000+ miles of my annual 8000 odd miles. In the last ten years, I think I've cycled with people I know when commuting for less than ten miles, mainly because I've so rarely met anyone.
Most of my other cycling is done socially, generally on a WARTY, FNRttC, Peli & Woolly Pootle, or some other ride organised on here. People on here seem to have a much better idea of routes to cycle, and cake stops and pubs along the way.
There are various reasons why I don't cycle much by myself (other than commuting), but some that come to mind are:
(i) Paranoia about problems. I've actually lived by myself for a large majority of the last 25+ years, so you'd think I was totally independent and ready to deal with anything, but there is always this slight angst that something is going to go wrong, that'll leave me stranded miles from anywhere with no solution. At least cycling with others, it's a problem shared, which makes it seem better! Having said that, over the years I've been pretty lucky and only had fairly easily dealable issues, visits from the fairy, things which just need tightening up, or adjusting with the tools that I always carry (maybe this is why I have the toolkit I do!)
(ii) I cycle too fast. When I'm cycling (and for that matter running as well), I tend to cycle too fast, and inevitably knacker myself out, so the second half (or more) of the ride is ridiculously hard work. Cycling with others helps me pace myself. I cycled bits of the Dun Run by myself this year, but the majority was either with Team Slow, or towards the end with Luke (when we both lost contact with the others), which both kept me going, but also kept the pace sensible. I can't say I've ever really worried about people at the back of a ride going too slow and causing problems for the rest of the group. I've been TEC on a fair number of FNRttCs, and only on the Martlets ride, in March, was it a problem, with a couple of cyclists who really had problems, and wouldn't have finished if they hadn't been convinced to get in the sag wagon by Simon. Even then I was willing to go on with them as long as it took, if the were wiling to continue. None of the rides I do are exactly speedy or distant (with the odd exception), so plodding along is fine.
(iii) Interesting stuff that you see is far more interesting with other people to talk about it with. It's great coming on here and posting "I saw XYZ today", but there's nothing like talking about it with someone who saw it at the same time as you, and probably has different views or takes on it. It can be something to talk about whilst cycling along as well, but I can always find something to ramble on about if someone I'm with isn't suggesting much stuff, assuming they aren't be uncommunicative because they hate my guts.
With people who are at the back of a ride, if they are having a bit of a hard time of it, I reckon that me rambling on about random nonsense may give them something else to think about, rather than how steep the hill is, and at worst give them someone to be annoyed with, which is also probably a bit distracting away from the effort of the ride!
(iv) If the ride is long enough, you have to stop for cake, tea, and eventually a decent meal. I really don't like eating in places by myself. I much prefer to stop in a nice pub and have a beer, some good food, and a chat. Even stopping for tea is nicer if you've got someone to chat to. Now admittedly you may meet someone new and friendly, who you wouldn't have met had you been with a group, but more often than not I've eaten stuff rapidly and without much of a rest since sitting somewhere eating by yourself is just a bit naff. I've done it enough when I've visited some place for work, and at least I'm being paid to be sat in a restaurant by myself, and I'll usually manage to find something to read. Stopping on a bike ride for fuel isn't half as enjoyable when you're by yourself.
(v) Historically I didn't know many cyclists. Many of the people I've worked with haven't been cyclists, they've all tended to drive to work, although this is less true in London than it was further out in the boondocks. Until the greater popularity of the Internet, and the existence of virtual places like yacf and CycleChat, there was less chance of meeting up with, and going for rides with like minded people. I've been a member of the CTC for yonks, but never really met up with other members prior to meeting them on here independently of the CTC.