I suppose I thought it had a purpose or custom because it is used on a few different shapes. I saw it first in a book by Pan Chunfang on notable Yixing potters. A gourd-shaped teapot with a ringed lid was made by a famous early potter Chen Mansheng (maybe the inventor of the style?). It looked sort of like this:
(The lid was from a copy of the gourd style by a modern potter, Zhu Huan, that was part of a pot a vendor sold.)
However, in the same book there was another potter, Bao Zhiqiang, using it on a different teapot shape, so it did not seem to be exclusive to the gourd shape. Not the same pot, but another by Bao Zhiqiang that has a ringed lid:
And it seems to show up on other shapes too:
So I thought maybe it had a purpose I did not know about.

You are right though, a lot of things are often just style choices.