48v is probably more common than 96v in general, so more components available already.
IMO solar pioneered (in recent history) 48V DC systems, which is an easy multiple of 12V to stay below the 50V “high voltage” safety threshold.
It allowed people to use smaller gauge wire and chain together multiple 12V batteries that are readily available.
Signaling on POTS easily hit over 100V, btw.
Too big/bulky?
The connector is bulky and of metal, and designed to be used inside. It's also expensive compared to other connectors. There are a lot of cheaper, more suitable connectors, designed to carry power.