Because poorly written game that for example expects 30Hz refresh rate can break badly if game is suddenly rendering at 60Hz. Similarly maybe faster gpu mode breaks something and graphics are broken. Solution to this is gimped mode that mimicks ps4 performance.
But you need to certify for that gimped mode!
Certifying would give sony way to force developers to fix broken code so faster ps5 mode can run the game without glitches.
The wording states that this is not for PS5 enhanced games, but just running PS4 games. Assuming the word is accurate, the situation here is that Sony requires devs to ensure they PS4 games run on PS5. Not run enhanced, but just plain run. That proves the BC is not 100% guaranteed, as if it was, if all PS4 games could just run in compatibility mode, Sony wouldn't need to request certification for new titles.
If Sony were only asking for PS5 enhancements to be included, you'd be spot on, but that's not the information we are given here. The information here is quite clearly, "not every game run problem free on PS5 in compatibility mode." That might be a tiny minority, we don't know. The only thing we do know it's not 100% thanks to BC mode being 100% BC. And working that backwards, we can also expect that not 100% of PS4 titles will run on PS5 because the BC mode is not 100% compatible. It might be 1 title that doesn't work, or 10, or 100. We don't know.
That's no different to XB where not every single game is BC. However, the difference here Sony are wanting devs to make their games BC, it seems, whereas on XB, MS are doing the BC work. If there's a multiplat game that doesn't run on either XBSX or PS5, and the dev is unable/unwilling to work on it to make it compatible, it won't be made compatible on PS5, but may be made compatible on XBSX because MS are doing the work, not the dev.
This does not make PS5 crap, nor BC rubbish, nor spell the end of Sony.
There's no FUD here and this may not even be the case if there ends up being clarification against the wording of this singular source. It shows a difference in the handling of BC and introduces questions about the future, whether Sony have added content to the PS5 development process to make BC better on PS6 or not.