A clear example of why this is useful is shown in the demo about overwriting __getattr__ etc. A static tool will just generate N number of getters and setters.
Pyrex/Cython are both pretty cool. I developed this for helping me with embedding python on an existing C codebase. Something those two things can't do. Similarly ctypes is great for doing it the other way around but doesn't work well for embedding and also doesn't do the automatic conversion so well.