Its default in win 10 as 6 years ago when it was released there were more PC with hdd and win 10 was open to any PC that could run it. Win 8 introduced the feature so it was even more for same reason, 2011 almost all PC had hdd as C drive.
I don't get why its still default in win 11, how many versions will have it before its decided it doesn't really help the majority. I don't know how many PC made that are compatible with win 11 and still come with just hdd, I guess there would be a few but majority would have an ssd you would think.
It only helps people with hdd, if you have anything else (ssd, nvme) you don't need it, it won't help as they are fast enough to not benefit from it.
One Con of fast startup is if you unplug PC with it on and fiddle with the internals of PC, it can mess up windows. Since fast startup saves files into both ram and hiberfil.sys on shutdown, you can corrupt files by unplugging PC. I have helped people who it happened to.
Another one is, even though its been around since 2011, not all drivers work with it well and it can cause errors on startup. On older PC I generally tell people to disable it for that reason
I generally have it off even on PC with hdd, as mums PC is unplugged more often than not, and I don't want to deal with corrupted files on her PC. It was turned off on my PC almost right away.