The table is for randomly generating a horse. Why a horse? Because in my experience the player rarely ask about their steeds and I wanted to be able to quickly come up with some horses should the need arise.
Now you might ask, "When would the need arise?"
Again, in my experience the PCs being able to afford a horse or even enough horses for everyone to ride is the #1 factor of being able to move the campaign along. When just starting out a horse is usually far more than they can afford and once buying a horse is no big deal, the PCs just start thinking of them more in the lines of "equipment" than a valuable resource.
Being able to take away the horse can help remedy that.
I'm assuming the enterprising GM can come up with some other reasons to distinguish one horse from another....
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