It’s mostly for looks but…
It’s does go well with drifting for many reasons: less traction, more steering clearance, stiff sidewall, ect… until you have a car with big power and you need a wider tire for more traction, even then you don’t see people drifting on 300 series tire too much. And for drift cars camber isn’t supposed to be “normal”, negative camber can help out a lot.
As for those old shitty box VW’s dumped out on 14" steel wheels with trailer tires stretched on… that’s kinda stupid looking
Its not just euro, probably more jap :rofl