Each email in its own file means a minimum of x KB on disk for each email, where x is usually 4. For people with thousands of emails that's very wasteful.
Maildir has the advantage that searching, adding and deleting emails is very fast, much faster than if those operations were made on single big file. Worth it.
The one thing that I did find is that deleting folders with many files was very slow. I guess that path wasn't well optimized. However even then you could deleted hundreds of files a second so for regular mail usage it likely isn't a major issue.