The big reason for most people is CAPEX vs. OPEX - even if it doesn't make financial sense in a dollar amount, it does in an accounting sense. Investors don't like to see big CAPEX numbers but seem fine with large OPEX ones.
If things go pear shaped large OPEX numbers resolve themselves as OP-erations get slimmed and shut down. Large CAPEX numbers, in the same situation, resolve themselves through liquidation and tears...
More importantly, OPEX comes from next years profits yielding a business I can loan against. CAPEX comes from last years profits, increasing the amount of loans I need to get it together.
It's the difference between thinking about short term profit margins and thinking about asset growth over time. Throwing a lot of optional cash today at a problem is better business than being forced to throw non-optional cash at a problem whenever the problem is feeling problematic. It's also quite freeing in terms of M&A.
That's a very illuminating way to highlight the accounting fears mentioned in the gp.