They are popular because there is an intrinsic feel of "it" if it's correct for the application. And to a certain point they do work. That's all I know. That's also why companies like "MapleShade" are in business. Besides, have you ever tried asking for a 18" x 18" solid piece of hard Maple 4" thick at any lumberyard? Some of the looks I received were astounding.
I recently needed to have a four piece "base" set made for my line-source speakers. I ended up paying over $1000 for the raw slab with the bark still on it to get the size I needed. The prices for tonewoods of that size are ridiculous. Fortunately I live close to P.R.S. guitars. A factory that uses allot of large wood slab So I Bought some that was earmarked for them. Shipping costs would have made what I accomplished infeasible.