One reason is performance. So if Python has a faster future ahead of it: Hurray!
The other reason is that the Python ecosystem moved away from stateless requests like CGI or mod_php use and now is completely set on long running processes.
Does this still mean you have to restart your local web application after any change you made to it? I heard that some developers automate that, so that everytime they save a file, the web application is restarted. That seems pretty expensive in terms of resource consumption. And complex as you would have to run some kind of watcher process which handles watching your files and restarting the application?