Sometimes, I'll reach a point where I'm just so emotionally overwhelmed that I'll flagrantly exaggerate my own woes for the sake of amusing myself and those unfortunate enough to have to deal with me and my wallowing. It's usually a last-ditch effort to lighten my own mood by inviting people to (gently) poke fun at my drama; it helps me to get out of my head and not take myself quite so seriously. It works, because people know me as being very reserved and I never, ever whine-- the other side of this is that I don't have to outright ask anyone to help me cheer up. I don't like appearing vulnerable and I hate pressuring others/holding them emotionally captive even more, so in this, it serves a purpose as a subtle way of seeking attention when I need it most.
Melodrama in others is interesting to watch; I have a heavy 5 wing and tend to observe human behavior with a certain degree of detachment if I'm in the mood for mental note-taking, but I'm also very conflict-averse, so my level of comfort with it fluctuates. I prefer it when it takes the form of creative expression, especially in verse.