For users, yeah there's no reason to disable screenshots or any other functionality that a user might want to do on their own hardware that they bought and morally should be in control of.
But for app developers there are a lot of reasons they might want to do that. Disappearing messaging apps like Snapchat, ticket QR code displaying apps, stock footage apps, ebooks, and more.
It's just that Google has decided that that second group of people actually owns your phone, not you.
This analogue loophole really makes me realize that if you need to stop a screenshot/screen recording for security/whatever, you've got a design problem. And this is specifically applicable to services like Netflix.
The technical background is that Android allows marking certain GUI surfaces as "sensitive", which increases their in-memory protection somewhat (not sure to what extent) and also makes them inaccessible to various remote screen recording/capturing solutions, including adb.
Not being able to take a screenshot is more of a side effect of that, but is arguably the main reason for most apps to use them in practice.
It doesn't have to make any sense, banking "consultants" have put blocking screenshots in their "security requirements" and now all of them block screenshots.
You wouldn't want to risk being non-compliance when a breach happens would you?
Android is becoming worse every year.