Originally, the most important reason
was rounding errors, because

and

used to be rounded to integers in individual cities rather than over your whole empire, which was a very big deal when your cities aren't producing much commerce. I think libraries, etc, kicked in after rounding too, so you effectively got penalized
twice with the rounding errors. i.e. if you produced 4

at 90% science in a city with a library, you were actually 0.40

and 1.50

per turn due to rounding errors!
These days the rounding happens at the empire level, but it can still be fairly important in the very early game: e.g. when you're producing only 14

, only getting 13

+

due to rounding is a nontrivial loss.
_____________
The idea that if you have better

multipliers, then acquiring extra

(e.g. by trades or building wealth) is more valuable than acquiring an equivalent amount of extra

(e.g. by trades or building research) -- and the opposite should you have better

multipliers -- is something different. Or at least, it used to be -- is this idea also going by the name "binary research" these days?