The biggest reason is socket compatibility , You will need a new motherboard if you will upgrade to a new generation processor .
Other than that :
Storage reasons : more storage ports that are available , like sata , m.2
Going multi-GPU : you need a high end motherboard to be able to go multi-GPU
More PCI-E slots
Overclock (and processor TDP) : overclockers are looking for motherboards that has many high quality VRMs that are on a good heatsink
More Ports : USB 3 ports , USB 3.1 ports , iGPU HDMI / DP ,
Support for 3tb+ hard drives / RAID : some old boards doesn't have a uefi bios that supports 3tb hard drivers
Most people will update their motherboard when they reach it's limit in something and they need more , at the end you get...