It is pretty common in regular workshops. Compressed air powers drills, riveting machines, sprays guns, jack hammers... Tools powered by compressed air are simpler (no electronics), more durable and cheaper.
For me, I like air powered tools because of their power and reliability. They'll almost always have more torque and power than similar electric tools.
When you start getting into 3/4 and 1" it's not even a comparison.
The cordless is nice to have but it's a luxury/convenience tool, not a replacement.