Actually, I admit I am somewhat intimidated by beautiful women, but I'm more intimidated by hot girls, since they're usually quite nasty people (ironic), and as stupid as it may seem, I'm still not always my best at dealing with rude nasty people. I'm not sure how to handle the situation all the time, and I'm not always in my element.
Beautiful women can intimidate me, but not quite as much. I think it's because they're much more friendly, and it doesn't feel quite so nasty or personal if they shoot you down. You can hopefully still talk to them, and they won't freak out just because you asked them out once. Unfortunately, real WOMEN can be difficult to find.