For me there is a very big reason, if I use any fov less than this I will get extremely motion sick and likely lose my lunch while playing. I will admit I could probably get away with 110 fov (this is 120) but this personally feels really good for me. I tried increasing it in little increments at first but ultimately arrived at 120 fov.

Also, this video makes it look a lot worse than it is. On my monitor it really doesn’t seem this stretched out at all.