From the programmer's point of view, I can tell you. Someone looked from the window, thought for a moment how SQL databases works and got a "brilliant" idea that simple table write is much faster than read, compare, modify if necessary and write cycle. It does make a sense, especially if they hired some Oracle guru, which has in-depth knowledge how the SQL server works but does not have any idea how the application above the database works. Quite normal in production environment in industry.
BTW, I am no joking. I am in IT for more than 28 years and I saw exactly this several times. In bank bussiness, in computer games bussiness and even in automotive industry. Actually, this is quite common, especially if in-hous application programmers are sitting in sixth floor and hired external database contrators are sitting in third floor (or worse, they are working from their company office via VPN).