There were a fair number of things that pushed me toward shooting at 1/2 or more off box speed.
The work of Jose Villa and others for one. IMO it's simply a set of style choices here: 1-a placement choice, bright beautiful faces; 2-a lighting choice, backlighting is the norm so subjects have nice even low contrast lighting (open sky) that makes shooting a white dress with detail next to a black tux with detail easy and provides a nice hair light and nobody is squinting; 3-the understanding that the background is strictly "second-fiddle" to the people, this is a bit oversimplified, but the background is there just to make the people look good in his shots. To put it bluntly, he's not shooting landscapes.
Practicality is important too.
My Holga, 1/100th @ f/11 is all there really is, from what I can gather the aperture switch is there for looks. Portra 400NC mid-day white salt flats in Death Valley, so 3-stops over, and the detail in the highlights still prints pretty.
My RB shutter only goes to 1/400th and I like shooting at f/4 & f/5.6 for effect, so 3-4-stops over on a front lit full sun exposure, still get great results with most negatives.
The other biggie with negatives is choosing the lesser of two evils, a bit of overexposure is almost always better than a bit of underexposure. 1/2 box speed helps me avoid underexposure with in camera meters. If I'm incident metering underexposure is almost never an issue so I see no practical advantage.
Just because you can overexpose doesn't mean arbitrarily shooting at 1/2 or 1/4 box speed is the best choice. Accurate exposure has it's advantages. Jose Villa is very accurate in his work, he's not guessing, he knows darn well what works for him by experience and is setting the camera to get exactly that.