For Chebyshev, who devoted his life to the construction of various 'mechanisms' [1][2], his motivation was to determine the parameters of mechanisms (that minimizes the maximal error of the approximation on the whole interval).
In the course of developing that theory he founded the modern field of approximation theory, and the St. Petersburg school of mathematics. I think his approach of using applied problems and techniques to inform the development of pure math deeply influenced the whole of Soviet and Slavic mathematics in the century that followed
(and yes, the book by Karl-Georg Steffens is beautiful!)
Edit: To answer the grandparent's question, aside from things directly invented by Chebyshev or his students, often things are called "Chebyshev" when there's either a Chebyshev polynomial or a minimax problem lurking in the background