There is no point. I for one am not that ignorant to think it’s a constructive “mod”. It serves no purpose other than aesthetic.
The ride is far worse, the tire wear is obviously far worse; you cannot turn anymore than half lock, and if you make any attempt to corner hard the rims more often than not grab the guards.
Personally, I think a car looks ridiculous with “sunken” rims, it looks tacky with the gap often left.