128-bit CPU's do not exist in the mainstream currently because there is no need for such thing at the moment, 64-bit capable CPU are still pretty flexable into the future.
Keep in mind that a 128-bit CPU would mean 128-bit registers, memory adresses etc. So software would have to take advantage of these increases before you see any benefit, it's the same way currently, modern x86(32-bit) CPU's have a 64-bit extension to the x86 instruction set, if this was not there then progrmamers would have to work with smaller data sets and would be less capable overall.
It still sucks that we are using an ISA from the 70's, because if they moved into native 64-bit, then developers would drop 32-bit support and we'd have software developed nativly around those extra 64-bit benefits. But it's a compatiblity thing as well, if this were to happen 32-bit software would not longer work.