I dunno how they make it in other countries, but I can confirm that a well-made German Baumkuchen, coated with chocolate to keep the dough from drying out, is simply delicious. It even got so popular in Japan that they have it in most supermarkets (baumukuhen / バウムクーヘン).
Opposite experience. The versions I've tasted were not dry (unless left out for too long), had a sort of melt-in-your-mouth texture, was sweet, had a specific taste that's hard to name (eggnog?).
> Several national variants of spit cakes: Spettekaka, Trdelník, Prügelkrapfen, Baumstriezel, Kürtőskalács, Šakotis, Baumkuchen, Kürtősfánk
> https://upload.wikimedia.org/wikipedia/commons/2/2a/Spetteka...
But there's not really a magic taste, it's just a fun tradition.