This design simplified things and allowed each button to serve a distinct purpose.
With the iPhone, the design philosophy carried. The iPhone could change itself via running different apps. To switch between features you had a single giant button at the bottom. But each app should do one thing. So it was either a phone, calculator, GPS, or Rolodex. But never all at the same time. And never more than one thing on screen at the same time.
They started to get away from this, such as using a volume button to take a picture. Or displaying a video inside a window. I would argue overall it makes things more complicated.