Because Windows will not truly overcommit memory. Without that extra commit, it will fail (and thus a page file that the OS can increase in size on demand), and after a PC runs for awhile, you'll not get back down to very low used RAM without a reboot. IoW, I think we're talking past each other.
My point is this: if a process requests a crapton of address space, it must expect that it might use that much address space, so Windows must either assure that it can, or not. If a process that is not explicitly expected to use a ton of actual memory is requesting a ton of address space, something is wrong with what's going on, generally. Allocating doesn't mean it will use it, but that it could--in particular, that, if it is acting correctly, the developers did not consider that amount of actual RAM to be unreasonable (so, if it is correct program behavior, I need to have that much actual RAM available, plus more for headroom). I have very few tools at my disposable to change the behavior of the OS, should that, "could," turn into, "is doing right now." One of those tools is to limit the committable memory. Doing so ensures what I consider fairly good behavior, in such a case. If you consider correct behavior to be to allow it to allocate what it wants, then that's OK, too, but you then might have to deal with the resulting behavior, should it try to use most or all of that space. You could have 500MB available RAM, but a 20GB PF, and have that succeed, then say, 800MB later, be stuck without an unusable PC. Or, with it clamped, using no or a fixed small PF, just have it fail, even though you might have enough physical RAM for the program's needs (but, if so, it shouldn't be asking for so much at once).
Since unexpected correct large commit guarantees are pretty rare, without specialized applications (mainly VMs and DBMSes), yet 64-bit process memory leaks, or other runaways, using the latest versions of FOSS software a lot, are not nearly as rare, by orders of magnitude, I see it as an obvious choice to make. The objective parts are the same either way you go, though.