I think it exists because in many areas (geographically, in the US at least), opportunities for LPN/LVNs are growing more limited outside of LTC. I will tell you this much, in the major US city I lived in when I was in nursing school
(a state capital in the midwest), LPNs were not hired in hospitals. Some hospitals had them, but they had been there for forever. It was not possible to get a non-clinic job in any hospital system as an LPN. They were just not hired. And those that were there still, were limited in what they could do at their place of employment (by the employer). To be 100% honest, even when I was a new grad (2+ years ago), it was impossible to find a job in that market as an associate degree prepared RN, as right around the time I started nursing school the hospitals in that area shifted their hiring preferences to BSN nurses (right or wrong is irrelevant, just an observation about what happened).
When I worked as a floor nurse (step-down/med surg mix at a level I trauma center), I frequently supervised an LPN with their patients doing all the RN only tasks for them. I had my 4-6 patients plus was legally responsible for another 4-6. It depends on the region of the country and how healthcare is in that region. In that area it was 100% worth the time to go to school as an LPN and then an LPN-RN bridge program and then *MAYBE* completing a BSN. Pay for newly hired RNs started under $18/hour - BSN, ADN/ASN, diploma or bridge program. The only people who had a BSN at work when I worked there were two of my fellow "recent" grads who were applying to grad school for an NP program as soon as possible, and I (all but required in the area where I went to nursing school to be anything short of automatically rejected).
It's a valid question depending on whether you'd be okay limiting yourself to LTC/SNF (as is the case in multiple regions...) and what you ultimately desire. I can see why people ask it.