Having access to fine-grained usage and health information for each device in their fleet can help IT managers decide which devices are sent to which users, as well as when maintenance is scheduled
Based only my own experience in large enterprises, the usual process is to EOL new laptops after about three years, regardless of condition. There's a whole sandwich of business and financial agreements built around this, so this 'fine-grained data' doesn't seem very useful (or necessary).
If HP really wanted to make an environmental impact, why not start an HP recycling/refurbishment program?
Right, but you have some laptops coming back from leaving workers. Laptops issued to interns. Windows laptops issued to people who come back and say they need Linux. Laptops loaned to people while their main laptop was being repaired. And of course the dreaded no-fault-found returns.
Of course you wouldn't want to be locked in to HP hardware only. And hopefully you've got an endpoint management tool which is gathering at least some of this data anyway...