Because the original point of it was to distinguish journalists and public figures, so you could tell imposters apart from real people. Now its purpose is to show who has a premium subscription. Totally different feature using the same name.
But not all "journalists and public figures" received the checkmark. It was entirely up to the ultra-woke Twitter management who gets a checkmark and who doesn't. I frankly don't see why the current, deterministic setup is better than the former non-deterministic one.
