I'm unsure of the reason it is in the Code, but on smaller ampere circuits where your grounded and grounding conductors are the same size or close to the same size, (as the phase conductors) I think it makes a lot of sense. I can see a positive point to looking at conductors in a panel or box and immediately distinguishing the "hot" conducturs from others without tracing them to an origin (in theory at least).
On your larger circuits the reduced grounding conductor is fairly easy to spot.. more so than an equal size conductor.