Such rewards are typically awarded at the very end of the game, and thus would otherwise see little actual use.
It gives the player a chance to use the Bragging Rights Reward on something more significant than leftover Mooks, allowing you to see just how powerful it really is ( or isn't).Similarly, some games lock their most exotic or experimental equipment behind New Game +, especially if they break the game or, inversely, don't work as well as the rest.A more basic reason is getting over the initial 'hump' of the First Town playthrough, where things are generally slower to get through because the player doesn't have all their moves yet the first time around. Indeed, playing through the game twice or thrice may be the best way to power up so you can face the Bonus Dungeon. So the player has a shot at things like multiple pathways and Multiple Endings.There are several benefits for doing this: New Game+ is the option of starting a new game by accessing a previous finished game, allowing you to start with improved stats, new costumes, items won beforehand, or milestones that make things more convenient.