Why set it to 200%? Because as Steve Jobs has explained, the only resolution that looks good after 100% is 200%. Then 400%. If you set it any in-between scale (such as 150% or 300%) then you will have display artifacts, such as horizontal lines appearing to have different widths when they are all in fact set to 1px.
This is only true with the approach macOS takes. When set to 150% on macOS the app renders at 200% and the compositor downscales. On Windows however there is no downscaling: the app renders directly at 150% thus avoiding any artifacts.
I prefer displays with a resolution where I don't have to do any scaling honestly.
Applications from the "previous era" that are not HighDPI-aware will get scaling... each application pixel will occupy 4 physical pixels.