Why do people use 8+ inch holes

I swear some of those holes people punch on those lakes...I'm shocked kids haven't drowned or there a thread about "lost my vexilar" down the hole.

My Ion is an 8" and i bought it because i fish both tipups and panfish and wanted one auger.  I have a 6" hand auger that I use early ice for panfish and if I only fished panfish I'd probably go 6" even though a rare 15" crappie is a tight squeeze through one.  I think the main thing is people don't want multiple augers for multiple things, or can't justify the money to do so at least.  

For me, I fish for pretty much anything so like the versatility of the 8". Is it enough to swallow a small foot, yes (as my daughter can attest). Vex/Marcum? Nope! I originally wanted a 9" or 10", but in hindsight am glad it's only 8". I've used others' old 6" holes while hopping around from time to time, and maybe I'd get used to it if it was all I fished through, but they do seem small.