
System costs benefits
while NICs are getting more expensive, the cost per bit tends to be lower on these cards. This means if the server can take advantage of the higher speeds, it may actually end up being cheaper than using multiple slower, less expensive NICs.
Blade and rack mount servers are often highly slot limited so getting more out of fewer slots allows for higher densities. Lets face it no one wants to put boxes like HP's old Super Domes with 192 PCI slots into their data centres these day.
You can always use SR-IOV to get lots of functions.