There are 2 main reasons why people recompile a kernel.
1. Speed: The kernel can be compiled to take advantage of your specific CPU architecture which of course would mean a little more speed. Cutting out all the stuff you DON'T need from the kernel might also increase speed.
2. Hardware support: The kernel contains drivers for a lot of hardware and sometimes needs to be compiled to support things that weren't compiled by default.
There are other reasons as well. I sometimes experiment with it out of boredom
Just to learn is another. Some people might say, "if it ain't broke, don't fix it!"