AFAIK, it was mostly because a lot more PS/2 keyboards support N-key rollovers than USB keyboards.
PS/2 does, but of course not all keyboards can deliver n-key even over PS/2.
The very same keyboards provide n-key if you use the USB->PS/2 adaptor in the box with the keyboard.
If it were straightforward there wouldn't be hacks such as pretending there's 2 keyboards in the system.