- portability
- access to places that don't allow it
- weight (when hiking)
- mobility
- in wildlife photography and other similar feats, a monopod is often good enough for long lenses
- in sports, racing, birding, it can be easier to follow the action
- utility (as a walking stick)
- takes the weight off of big lenses (especially when the shutter speed needed is sufficiently fast for hand-holding)
- sports (especially when trying to get a low angle for a good perspective and background)
- airshows
- stick a flash on it and get off camera flash look without much setup
- get higher angles if you have a remote shutter/use self timer
- defense
It can also be very stable if you use it correctly.