It’s something that I’ve never understood about Apple’s philosophy. I think all devices should have (optional) external LEDs (they should all have the option to turn them off if you don’t like them).
In my opinion:
For Computers:
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It’s nice to have an LED to know when the computer is powered on. That way if nothing appears to be happening and the screen is blank I know that something is up.
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It’s nice to have an activity LED to know if the computer is actively doing something. Especially during updates on a machine with an SSD. Sometimes the screen goes blank for a period and I can’t tell if it’s doing something or not (I used to be able to hear an HDD doing stuff). I have no choice but to wait and pick an arbitrary amount of time before deciding it’s crashed and I should intervene.
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It’s nice to have an LED to know when the computer is charging. The sound it makes when plugged in can be annoying (e.g. if you’re trying not to wake a baby and forgot that the volume is up when plugging in). Also if the power gets disconnected, you can tell instantly with an LED. Without an LED you have to physically check the device if you need to reassure yourself that it’s still charging.
For Phones:
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It’s nice to have an LED to be able to see if you have a notification without having to physically go to the phone.
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Same comments as computers regarding charging LED and sounds.
I know that sometimes LEDs can be annoying as a light source. Ideally they should be optional from the get go, but even if they aren’t optional, you can always stick a bit of tape over an LED, or turn the device so the LED is against a surface. Not much can be done about sounds though.