Mostly because geofencing is getting much more widespread for various legit reasons (security, anti spam, licensing restrictions, etc) and very annoying for end users.
"Security" is not a legitimate application of geofencing, in my view.
Any attacker can trivially use a VPN to defeat it, yet legitimate users are massively inconvenienced by it. I've had too many accounts (bank and otherwise) locked for the crime of trying to access them while traveling internationally.
