It is a proprietary extension to fit in a proprietary form factor all custom-built for Apple's exclusive use where the lack of interoperability with normal hardware is a feature rather than a bug. Apple's proprietary 500W slot is more than twice as long in total as a standard PCIe slot and wouldn't even fit on a standard ATX board, you need EATX to fit one of those.
If you want to have a nearly universal internal expansion connector, it has to make sense across the entire price range that may use it. I doubt it would help many people to have the GPU market split between models that only fit EATX motherboards with 600W slots (the dangling 500W extension may mechanically interfere with other board components on non-600W motherboards) and models designed for normal motherboards using direct power cables. A bump to 150W on the other hand could be done by adding a few pins toward the IO bracket, though this still has the issue of possible mechanical interference on motherboards that cram stuff there, so you'd still need boards in 75W tab and AUX variants... or a completely new connector where backward compatibility is a non-concern.
As I have written before, all of that extra power has to be brought from the PSU to the motherboards too. So, for the sake of eliminating the 12-16pins connector(s) on the GPU, you end up adding extra copper layers to the motherboard, a 100+pins PCIe slot extension, a 16+ pins power connector to the motherboard clutter, and a matching cable from the PSU to the motherboard too.
More parts between the PSU and the load is just more thing that can potentially go wrong. With power going straight from the PSU to the GPU, a fatal fault on the GPU may fry the GPU's PCB and possibly PSU connectors but leave everything else intact. If the GPU pulls all of its fault current through the motherboard's 12V connectors, the motherboard's power planes and the PCIe slot, a fatal fault on the GPU may now also fry the motherboard if there are any weak points along the way.
I'd pick the relative safety of giving each major load its own power cables for anything significantly in excess of 100W over the added footprint, costs and risks from needlessly routing high power through the motherboard.