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Fun and nostalgia are reasons, entire multibillion businesses are made out of those :-P.

For a more serious reason there is still DOS-based software in use that can't be replaced (or the replacement would be more costly) and FreeDOS is more compatible with modern hardware than MS-DOS in case replacements/fixes are needed.

Legacy. There are tons of industrial machines whose control software runs on DOS. The machines are still good, and it's not like you can just pick up a new 20 ton press or 5 meter long lathe...

Just this weekend I needed to run both a FreeDOS and Linux ISO in order to reflash the Dell PERC in an R520 to support IT mode to use it with ZFS. I wondered the same thing - why can't it all be done from Linux - and found this recent issue where the maintainer says it just doesn't seem to be possible: https://github.com/Fohdeesha/lab-docu/issues/18