Could the things held here be placed on an About page? Possibly - it depends what they are. If they are links to your own posts then almost certainly. External links? Maybe, maybe not.
So, why have a required page and what does it give the reader?
I think it provides background, insight and, perhaps, a look into the bloggers motivation. It helps gain an understanding of who the blogger is, what they believe or why they write what they do.
Maybe even just why they write.
At least that's what I think but each individual's idea of a required page may be as unique as the person themselves.
Irrespective of the what or why, it will be vital that a /required page be curated effectively, else the correct impression will not be given to the reader, but I wonder about how frequently it needs to be updated. Again, this will most likely vary from blogger to blogger but I don't think it will be as often as a /now page.
I'm going to spend some time considering what I might have on mine.