Smaller, 6-bit code pages existed before and after that. They did not even have space for upper and lower case letters, but had control characters. Those codes directly moved the paper, switched to next punch card or cut the punched tape on the receiving end, so you would want them if you ever had to send more than a single line of text (or a block of data), which most users did.

Even smaller 5-bit Baudot code had already had special characters to shift between two sets and discard the previous character. Murray code, used for typewriter-based devices, introduced CR and LF, so they were quite frequently needed in way more than few years.