One reason could be constructed by example, as:

  <Location /v3>

vs.

  <LocationMatch ?[.*&]v=3(&|$)>

Which is to say that, depending on the application's coincidental design and structural choices over time, managing versions at /v1 /v2 /v3 might well be vastly easier for the "shoestring budget" operator than at /?v=1 /?v=2 /?v=3.