alt Hacker NewsMacs doesn't need to wake completely to renew their DHCP leases. Bluetooth and Wi-Fi radios can act independently and on their own for this low level operations.
On the other hand, I don't consider my computer to wake up, take a backup, check system/app updates and my mails and handle those while I'm sleeping as a feature, not a bug.
That is pre-Apple Silicon, before together integration of software and wakeups.
I can see a continuously renewed DHCP lease — with nothing else - useful for reducing the time to reconnected to your network, esp maybe on old/slow networks or routers.
You can Touch ID and get back in a second, and maybe for 5-10% of users, it was resulting in initial network connection slowdowns or errors with buggy online-only apps.
Find My (your device wants to maintain a connection if you have it enabled) is another reason. It must regularly connect (perhaps a long running socket), and I want to be able to remotely lock and wipe my device at any time possible, for example.