Absolutely nothing major. Just convenience.
One of the things I do very frequently is renaming of components. It would be nice to speed things up a bit and if the directory in which the LWC metadata exists (or any of the sub files) changes name, it changes all the relevant files in that LWC to the same. Right now, I have to go through and rename each individual sub-file (i.e. html, js, css, metadata, svg).