T5 can't handle much power but definitely more than the T50. Then you got the T5WC which is even better ( not by much but still ). T5 is easier to find parts for too and there's alot more support.
Why change? Well I didn't say I was gonna but if I did the reason would be better shift pattern and preservation of the original transmission where if it broke I probably wouldn't be able to fix it for a reasonable price.
if the T50 still works the guys with the Chev Monza, Buick Skylark and Olds Starfire who want to keep the car original may want the T50