Because it is a great way of joining two cords of dissimilar thickness, or two cords with other dissimilarities such as stiffness, slipperiness etc. Our loop knots are generally well adapted to tying to themselves but bends between different materials are notoriously fickle. So making a loop of thinner, softer cord and having it 'Cow Hitched' to a thicker, stiffer loop is an excellent way of bending those different cords safely to one another - AND we don't need to remember specialised knots for joining different media.
Good point Derek.
I see how this improves the option to join two sets of dissimilar ropes (different material, different diameter) with two interlinked loop knots by not just interlinking them but reef knotting the loops together.
Therefore not only the zeppelin could be used, but also any form of the bowline or the double dragon or any combination of the secure loop knots.
I did not mean my "why bother" in a disrespectful way, by the way. For the above mentioned situation, it is indeed an option, but not as a general bend (as it is overkill if the ropes are similar and there are easier options).
Other ideas might be:
1. in my tests the zeppelin and the butterfly bend have been surprisingly reliable with completely different types of ropes (both have not failed, whereas the double sheet bend did)
would I abseil from a burning building with this configuration?> probably not

2. Zeppelin or butterfly bend in which the thinner rope is tucked twice through the two eyes (the double sheet bend principle) before tightening
3. zeppelin bend in which the two ends are bend with another zeppelin as security