1/2" ID is big and ugly. It's heavy (when filled with water) and it is hard to make it bend corners. Due to its characteristics it is often tilting blocks away from CPU's resulting in poor thermal contact.
At 1GPM, 3/8" ID tubing provides fairly minimal flow resistance in proportion to the ability of a strong pump to overcome that resistance.
For example, at 4LPM (~1GPM) 3/8" ID tubing offers around 0.43mH2O of flow resistance, or for an Eheim 1048, over one third of its effort is spent on pushing the water through the tubing alone. At 4LPM, after factoring in the flow resistance of fittings and the like, with a 1048 we have just ~0.50mH2O of pressure to "spend" on accelerating the water flow. Going to a 1/2" ID setup, and we effectively double the pressure that we can "spend" on performance boosting water acceleration.
For our imaginary "D5", we're talking like 8% of the pump's effort for 3/8" ID tubing. Factoring in the fitting resistance, we now have ~5mH2O to "spend" on accelerating the water flow. If we went to a 1/2" ID setup, we'd gain maybe a measly 10% of extra pressure, which wouldn't be that big of a deal next to the convenience of using 3/8" ID tubing.
Those are my thoughts and reasons.