Because it was the only "standard" 256-color mode back in the day, supported by both mcga and vga. MCGA cards had just enough ram to support this mode (64kb) while vga cards were a strict superset and had a full 256k of ram.
Btw OG 1987 $595 IBM PERSONAL SYSTEM/2 DISPLAY ADAPTER https://www.minuszerodegrees.net/video/IBM%20Announcement%20... VGA card used eight 64Kx4 DRAMs https://upload.wikimedia.org/wikipedia/commons/3/3f/IBM_VGA_... to build its 4 banks. Ram Address Bus is wired in parallel (can see pin10 A7 common for 2 rows of ram chips, also pin1 OE).