It makes for an effective level playing field. This isn’t motor racing, where the manufacturers are competing for honours as well as the drivers. This is cycling, where it is supposed to be all about the rider. The UCI weight limit helps in this respect.
Except that’s not the point of the weight limit. When most manufacturers are adding heavier parts then it’s not reducing the budget either, we’re not seeing some teams struggling desperately to achieve 6.8kg, it’s easy.
I think it’s good in that it’s driven innovation in aerodynamics, and perhaps things like Di2/EPS and power meter technology wouldn’t have come in the same way if the weight limit were scrapped, but I’d happily see it taken down by a couple of pounds to see what happens.