There are a few reasons for cutting it. It's a combination of how much you lower, the spring rates, and driving conditions. Some lowering springs lower quite a bit but have fairly soft rates. If you left the bump stop uncut and go over a large dip in the road, the suspension will easily compress and hit the bump stop very soon. The reason you would want cut it a bit is so it wouldn't be hitting the bump stop so soon and you allow the shock to work more efficiently by actually absorbing and controlling the movement rather than abruptly stoping too soon when hitting the bump stop. Now if you lowered the same amount but had higher spring rates(and shocks to match), then the suspension won't travel as much when hitting that same dip in the road. However, not all roads are the same. You may come across a larger dip or w/e.
Now that's just in normal driving. Under real hard cornering, it's a matter of the cars weight overcoming the spring rates. Driving on relatively smooth roads with fairly stiff springs and not slammed may be fine for an uncut bumpstop. When it comes to very hard cornering, like literraly to the edge of grip like in autox/road racing, the cars weight can put enough force on the springs to compress all the way and to the point where you are siting on the bump stop. This is not ideal because under those conditions, you want your shocks to absorb and control all movements in the suspension while cornering. If you're riding on the bump stop, you can actually take away grip in the tires. Cuttingthe bump stop a little will allow just enough room that you won't hit the bump stop so early and allow the suspension to do its job.
Now of course you can go with higher and higher spring rates but if this is a street car, that's not exactly comfortable... My race car is lowered quite a bit, to the point that I have only a few inches of room for the shaft on my shocks to travel(for the front atleast). I cut my bump stops in half because of that. Even though I have incredibly stiff springs, I still get enough compression that if I didn't cut the bump stops, or even only cut a small amount, I'd be hitting them VERY soon under racing conditions or even on the streets.