(In a sense, not having this capability in processes running as root is theatre anyway: you have /dev/kmem access so could just edit the kernel data structures. It's just doing so cleanly that is no longer possible.)
Being able to briefly escalate my editor to have the capabilities to write /etc/wibble.conf when I started editing it as a non-privileged user, then take away the capability again would be more convenient that always needing to run the editor as root. (So convenient, in fact, that people fake this with little editor helpers that do the equivalent of 'really tee FILE-TO-WRITE >/dev/null', but that's an ugly hack.)