main reason is it will fix a puncture and give a bright indicator to show there is one.
Have used it in the bike for years and it has done a great job. just remember to tell any tyre fitter that it is there as some still pop the bead with the tyre under pressure and that makes a great mess! ;-)
I've used ultra seal for a good few years. The advantage, apart from the obvious, is that it keeps the tyre temperature lower so keeps the tyre more supple. I've seen a demonstration where an ultrasealed tyre was harpooned and did not deflate.