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The short answer is revenue, as a third-place play-off gives FIFA another game in which to drive ticket sales, while broadcasters can sell advertising spots in exchange for showing the game.
The third-place play-off also has an impact on the global rankings and gives players an opportunity to restore some pride and end their tournament on a high.
For some players, like Mbappe, the third-place play-off offers a chance to win personal accolades such as the Golden Boot or the Golden Glove.
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Has there always been one?
The first third-place play-off was introduced in 1934, the second edition of the World Cup, with Germany beating Austria 3-2.
