This is the explanation I give to my OW students, while I teach them about the tables. Dives shallower than 60 feet will tend to be limited by air, dives deeper than 60 feet will tend to be limited by NDL. The OW course tends to focus on "monitor your air, do not run out of air", while the AOW course places a greater emphasis on dive planning.
Another way to phrase it might be that 60 feet is sort of a sweet-spot for the classic recreational dive profile of two consecutive dives of 45-60 minutes on 80 cf tanks with roughly an hour surface interval between them. Limiting to 60 feet lets the average diver get the most out of this kind of diving.