TL;DR Money
The linked posts in the comments give some good explanations of the history of AFCI and GFCI protection. But as for the specific answer to your question:
why you wouldn’t want every receptacle fed off an AFCI, with GFCI in wet locations.
The answer is that in a perfect world, there is no fundamental reason not to do so.
However, most of us don't live in a perfect world. Most of us have to balance cost vs. benefit.
In a new house, $1,000 for AFCI everywhere and GFCI for wet areas, etc. will hardly be noticed. You don't get an itemized bill when you buy a new house.
However, in an existing house that $1,000 as a sudden extra government-mandated (the NEC is not governments, but it is local governments that require the NEC be followed) extra expense would not go over well. And the expense could even be quite a bit more. In my house before panel replacement a couple of years ago, the AFCI requirement would have essentially required the panel replacement (that I eventually did for other reasons), so it would have been a lot more than $1,000 to add AFCI everywhere. On the other hand, when I did a panel replacement for other reasons, if I had to add AFCI everywhere (and GFCI where I didn't already have it - kitchen did from previous renovation, bathrooms because many years ago my electrician basically told me he was going to do it (I don't remember him really giving me much of an option!)) then I might have waited longer on doing the panel replacement. And that panel replacement solved a lot of other safety issues, including some that I (and my electrician) didn't even know were lurking in the old panels.
False positives on GFCI - very rare with modern appliances, unless there is an actual ground fault.
False positives on AFCI - a little more common than GFCI, because the detection process is more complex. But gradually this problem will go away with newer appliances because manufacturers will redesign to avoid high return rates.
My personal take on it:
- GFCI in key locations (basically the older GFCI requirements - within 6 feet of a sink in kitchen or bathroom) - that can be done so easily and inexpensively (around $15 per circuit by putting it in at the first receptacle in each circuit, no panel work needed so a basic DIY task in most cases) that if you have a bathroom or kitchen 30+ years old that never got GFCI, do it now.
- GFCI in other locations, AFCI everywhere - no rush.