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Archival, making mods, making custom modern builds of the game for new hardware, improving the game...

So much potential to keep a game alive instead of locking it on some arcaic hardware nobody has spare parts for.

It would let you recreate or change any aspect of the game you wanted. Much more control than mods would generally allow for.

If the game is something people really want to play, having the source code makes it a lot easier for someone to make the game work on modern operating systems, and possible to port it to ones it didn't originally support.

So, especially with PC games, software is compiled using an IDE/language and runtime environments. That last part is why games stop running on newer versions of windows, and it's especially why older games can't just "be ported" to consoles, mac, etc. Once you compile a program, it's like etching that program into a stone called an executable/extension(DLL). If you want your program to run on anything other than the old compatible hardware using their runtime libraries, you gotta have the OG source code in order to recompile. Blizard North had a liquidation sale way back and the source codes to their projects was in it. They've been scrambling to get it all back to make remakes/remasters.

The source code of a program is like a recipe and list of ingredients. If you buy a coffee from Starbucks, you get a coffee from Starbucks. You can't easily change the beans used, the brew temperature, etc. With the recipe, you could brew your own with slight differences, or make coffee from scratch knowing everything that's in Starbucks coffee. With the source code for a game, you could change/mod anything. FPS unlock mods, ports to other platforms, and much more. You could make your own game, and make it better knowing how some systems work in another game.

Some games have their source code leaked, in which case it is illegal to own, redistribute, or learn from the code. Although it'll usually still happen, it's much more "underground" than games where the source code was reverse engineered. Reverse engineering is like buying a coffee, tasting it, then coming up with your own recipe. Having your own recipe almost exactly identical to the original still allows you to make changes easily, but it's not illegal, as you wrote it, and are allowed to share your own recipe. Some older titles like Super Mario 64 have been fully reverse engineered, and ported to every possible platform, with multiplayer mods, FPS unlock mods, etc.