If the address is to a large host, then they will use reaching invalid email addresses as evidence that you are not keeping to best practices. They will throttle deliverability, and possibly reject email.
If your sending to an invalid host, then your mail sending provider (if your using one) may consider you a bad customer and send you through a lower grade of outbound IP addresses.
Frequently new registrations are processed at once as batch imports from another system or from a partner. There is a need to remove these invalid email addresses pre-sending and hurting sending reputation.