One reason I can think of is that ebgp-multihop (in the lab) allows me to
peer to a remote router's loopback interface. This can somewhat overcome
situations wherein the main link can be down, but there still exists another
link in which I can keep the neighborship up for whatever reason. As BGP
runs on top of TCP, peering will still be up as long as there is another
path to the remote router's loopback interface. ie. multi-homed BGP
applications.

I'm sure there are some more advantages and disadvantages of using such
design in the real world. But I would guess that the guys from Cisco (or the
geniuses who designed BGP), put ebgp-multihop in there as a feature not to
be mandatorily used, but to overcome some unavoidable situations.


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