Fast Ethernet is better than no Ethernet, and gigabit is unachievable in low-end FPGAs.
So apart from being fun, maybe the main benefit would be less board space because it doesn’t need the PHY chip? (But also potentially lots of disadvantages practically).
I think this is a "because I can" sort of thing.
LiteX allows me to use it as a Gigabit Ethernet powered logic analyzer with a lot of inputs.