Lots of instances will all burst at the same time, for example when someone has thousands of T3 instances and then dumps a bunch of work into a work scheduling system, or when debians cron kicks in at exactly midnight.
I'd much rather Amazon say "You have X% guaranteed CPU, and up to Y% extra cpu you can use on a best effort basis" I'd like to see the same for memory and disk too.
For those who need fixed performance, there should be a setting to disable that best effort extra bit.
Many workloads really just need a significant fixed amount of memory, and only periodically need high-performance CPU. T2 instances are much faster than you'd intuitively expect, if your workload is very bursty you can easily beat C4.
The newer Unlimited model "just" removes the edge case of being throttled if you run out of earned CPUCreditBalance, so you no longer have to reason about its interactions with other scaling factors.
It also allows a whole new usecase: if your workload doesn't need much memory or high I/O but will utilize as much CPU as it can get, you can save big by picking smaller burstable instances with Unlimited.