That way there's really no hierarchy, it's like being a contractor at a business or an acquaintance at a party. People will still find you interesting but not threatening. Weirdly they also find you familiar despite you not being there all the time. I guess it's decreasing marginal returns.
If you have some time to waste, look at one of those Real Housewives of X shows. They love having rivalries, but they're only fighting each other because it's such a closed group.
Having lots of groups also lets you take off some of the intensity of your relationships. You don't have a sole provider of entertainment or warmth or intellectual stimulation, so you don't have to do everything their way. You can take a break from any particular person. And you get a lot of invitations.
I'm even a bit suspicious of people who seem to have exactly one group of friends that they're always with and have always been in. Often I find there's some sort of blockage there in their maturation, making it hard for them to communicate.